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March 11, 2004

NEWS FLASH! FAVORABLE BOND MARKET LOWERS TAX RATE

We originally communicated that the new bond proposal would be an increase of .93 per thousand. Due to a favorable change in interest rates the increase will actually be .79 per thousand!!! This means the NEW combined tax rate for the proposed May Bond will be lower than originally anticipated. Tax payers are currently paying a combined tax rate(maintenance and operations levy and previous bonds) of $4.40 per thousand assessed value on a home or property. With the passing of the proposed $45 Million Bond, it would increase the combined rate to $5.19. The average assessed home in Enumclaw School District is about $188,000, so the average home owner's taxes for schools will increase by approximately $148.00 annually or about $12.37 per month.

For questions or additional information, please contact art_jarvis@enumclaw.wednet.edu or 360-802-7101.