Voters in the Las Lomitas Elementary School District approved a $70 million bond measure on June 5 by a wide margin.
The county’s election night tally showed Measure R winning with just under 66 percent of the vote, far more than the 55 percent needed.
The $70 million bond measure that will add about $300 per $1 million of the assessed value of property in the district to annual property tax bills until the bond is paid off.
Backers of the measure say the money is needed to complete district construction plans that were part of a facilities master plan approved by the school board in 2013.
After that plan was adopted in 2013, the district’s voters approved a $60 million bond measure, which also added about $300 per $1 million of assessed valuation to property tax bills.
The assessed valuation of a property is based on the purchase price and improvements made to a property; it is allowed to increase by 2 percent or the state’s cost of living increase each year, whichever is less.
