Bill description: For bond measures, HB 626 would require that the cost per $100,000 of property value be included on the ballot for bond elections.
Does it in any way restrict public access to information related to government activity or otherwise compromise government transparency or accountability? Conversely, does it increase public access to information related to government activity or increase government transparency or accountability?
HB 626 would ensure that residents easily understand the impact that passage of a bond measure would have on their property tax assessment. Currently, the information provided on the ballot for a bond election must include the:
- Bond’s purpose
- Total amount of the bond
- Total amount of interest expected to accrue
- Issuing district’s total indebtedness
- Bond’s expected interest rate
- Total cost of the bond over its lifetime
- Term for the bond
HB 560 would add to this list the estimated cost per $100,000 of taxable property. This change would make it readily clear to property owners what a bond will cost them.