School Bonds

School bonds are a type of General Obligation Bond, allowable under Education Code §15100, which are voter-approved bonds where an ad valorem tax rate is levied against the value of property in the school district boundary. These bonds may not be paid off early by the taxpayer/property owner, however a district can do early bond calls and refundings in certain circumstances.

Tax rates are calculated annually to ensure sufficient funds are collected to meet debt obligations due to shareholders in the current year.  Several components are used to make this calculation, including assessed valuation in the district boundaries, amount due in the collection period, prior year ending fund balances and revenue from other sources.

Since general obligation bonds are ad valorem based, there are no exemptions for property owners 65 or older, or persons receiving Supplemental Security Income for a disability, regardless of age, as compared to K-12 School Qualified Special Taxes which allows for such exceptions under Government Code §50079. For information regarding School Parcel Taxes and exemption information, please visit our School Parcel Tax Exemptions section.

The Board of Supervisors approved Ad Valorem Tax Rates annually. The Resolution can be reviewed below:
Fiscal Year 2024-25 Ad Valorem Tax Rates Resolution (PDF: 429.4 KB)

Detail about outstanding school bond authorizations can be viewed on the document below:
School Bonds Outstanding as of June 30, 2024 (PDF: 84.5 KB) 

Ballot measures include information about how bond proceeds will be spent. Each school district can be contacted with questions about how funds are used. Please see the contact list below:
School Bond Contact Information (PDF: 101.7 KB)