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A school bond is a way for school districts to raise money for large projects like building new schools, renovating existing buildings, or improving facilities. It’s similar to a loan that the community pays back over time through property taxes.

Schools require bonds to finance major projects that exceed the capabilities of their regular budgets. These projects can encompass constructing new facilities, renovating existing structures, upgrading technology, enhancing security measures, acquiring textbooks, purchasing band equipment, improving transportation, and acquiring land.

A school bond must receive at least 60% of the vote to be approved. This is known as a supermajority, meaning that 60% of the voters in the school district must vote in favor of the bond for it to pass.

Millage is a term used to describe the rate at which property taxes are levied. One mill equals one-tenth of a cent. For example, if your property is valued at $100,000 and the millage rate is 10 mills, you would pay $1,000 in property taxes (100 mills = $1 per $1,000 of property value).

Bond money is used for specific projects outlined in the bond proposal. These projects might include building new schools, renovating existing ones, upgrading technology, improving sports facilities, and more. The details are provided to voters before the election.

You can visit the website of the school district proposing the bond or attend community meetings they host. For Oklahoma-specific information, the Oklahoma State Election Board at https://oklahoma.gov/elections.html website is also a good resource.

The school district’s board of education decides how the bond money is spent, based on the projects and priorities outlined in the bond proposal. They are responsible for ensuring that the money is used as promised.

If the bond doesn’t pass, the school district will not get the funding for the proposed projects. They might try to propose a new bond in the future or look for alternative funding sources, but some projects may be delayed or canceled.

No, bond money cannot be used for everyday operating expenses like salaries, supplies, or utilities. It is specifically for capital projects, which are long-term investments in school facilities and infrastructure.

To vote on a school bond, you need to be registered to vote and live in the school district proposing the bond. It’s important to check whether your property is within the school district boundaries, as these do not always align exactly with city or town boundaries.

To vote on a school bond, check your voter registration status and find your polling place on the Oklahoma State Election Board at https://oklahoma.gov/elections.html website. Voting is usually done in person at your designated polling place or by absentee ballot if you can’t make it in person.

To understand the financial impact, compare your property tax statement from the previous year with the tax impact chart provided by the school’s financial advisor. For more information on property taxes and to contact your county assessor, visit Tax-Rates.org or https://www.tax-rates.org/oklahoma/property-tax.