HERMISTON, Ore.-
The assessed value of property within the Hermiston School District grew by 6.19 percent over the past year according to the Umatilla County Assessor’s Office.
That growth is more than double the 3 percent annual rate the district budgets for bond repayments and operations.
“The district takes a conservative approach to budgeting; so, we can be confident in the resources we expect to have,” said Superintendent of Schools Dr. Tricia Mooney.
According to an HSD press release, as the assessed value in a taxing district increases, each individual property owner pays a lower tax rate on bond debt because the cost is spread among more properties.
The new rate, which is equal to a reduction of about $43.35 for a property with an assessed value of $250,000, was reflected on property tax statements sent out this fall.
“We must be mindful of the delicate balance of budgeting and the potential ramifications of more aggressive budget assumptions,” Dr. Mooney said.
