Final 2012 report shows 86% of bond benefits flowed to West County Projects while taxpayers there pay only an estimated 62% in property taxes on the bond
After almost five years, there are still persons asking how the College spent the General Obligation Bond of $69.5 million approved in 2000. To answer that question, the Blog went back to the final spending report issued by the College and posted on the June, 2012 agenda.
Based on that report, it appears that 86% of the bond proceeds went to projects on the west side of Yavapai County, which has 2/3 or the total County population. The remaining 14% went to the east side of the County which has about 1/3 of the total County population.
The bond is paid through secondary property taxes. Because the Sedona taxing district lies within the east side of the County and has a large amount of expensive property, it is estimated that taxpayers in Sedona and the Verde Valley pay about 38% on the secondary bond each year but receive only 14% of the benefit from it.
The short one-minute video that follows sets out the data as it was provided to the District Governing Board by the College at the June, 2012 Board meeting. Most residents living on the east side of the County consider the allocation of revenue to build and upgrade the Verde Valley as unfair when compared to the building and upgrading of facilities on the west side of the County. See if you don’t agree.