HERMISTON — Taxpayers in Hermiston got good news this week when the Umatilla County Assessor's Office reported the school bond tax rate for Hermiston School district is going down to less than $3.60 per $1,000 of assessed value.
The school district had previously told taxpayers the bond was going to go down from $4.09 to $3.65 after the district paid off its pre-2008 bonds this summer. But the assessor's office determined that property values in Hermiston have risen faster than expected.
Property with values within the boundaries of Hermiston School District grew by 4.66% in 2018, according to a news release by the school district.
The new rate will be reflected in property tax statements the county will begin sending out this week. The school district is going out for a bond during the November election, promising the bond will not raise taxes above the new, lower rate. Hermiston's school bonds are expected to be paid off in 2029, but if the bond passes in November it will be paid off over a 25-year period.