ALISO VIEJO : Tax Rate Increase to Finance Schools
A tax to help pay for new schools in the Aliso Viejo community and a portion of Mission Viejo will be included in property tax bills for the area starting next year.
The tax rate, set by the trustees of the Capistrano Unified School District this week, will range from $241 for a single-family, detached home less than 1,700 square feet, to $483 for a home between 2,400 and 3,499 square feet. Apartment owners will pay $145 per unit, and owners of commercial and industrial property will pay $1,725 per net acre.
The tax rate will be re-evaluated by school trustees on July 1 of each year and may be raised a maximum of 2% per year. The special tax district was established two years ago in an agreement between the school district and the Mission Viejo Co., said Dave Doomey, a school district administrator.
The agreement allows the district to sell $120 million in school bonds to help pay for a high school, an intermediate school and four elementary schools in Aliso Viejo. A fifth elementary site will be purchased in Mission Viejo near Felipe Road and Barbadanes.
The first bond will be sold for $45 million and paid off by residents over 25 years. Additional 25-year bonds will be sold as the additional schools are needed, Doomey said.
During the first tax year, 3,349 residential units and 165 parcels of commercial acreage will be assessed the school tax, according to Doomey.
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