Five Major Building Projects... e Cabell County Board of Education has sel- eceted the following five projects to be included in the Bond Election: A new elementary school combining the populations of the current Cammack and Miller elementary schools. e projected cost is $7,563,833. e new school would be home to approximately 381 students in grades Pre-K through 5, and would be located on the current Cammack property. A renovated middle school combining the populations of the current Cammack and West middle schools. e projected cost is $16,203,334. e school would be home to approximately 595 students in grades 6 through 8, and would be established through an extensive renovation of the cur- rent Cammack Middle School structure. A new Barboursville Middle School housing the population of the current Barbours- ville Middle School. e projected cost is $16,763,688. e school would be home to approximately 802 students in grades 1. 2. 3. Proposed Projects for the Bond Election... 6 through 8, and would be located on the current Bar- boursville Middle School site. A new Milton Middle School housing the population of the current Milton Middle School. e projected cost is $17,924,145. e new school would be home to approximately 659 students in grades 6 through 8. A site for the school will be determined at a later date. A new Martha Elementary School housing the growing population of the current Mar- tha Elementary School. e county is seek- ing partial funding from the WV School Building Authority, and is proposing that $2,000,000 of the total cost be included in the Bond Election. e new school would be home to approximately 253 students and would be located on the current Martha site. e total cost for all projects included in the Bond Election is estimated to be $60,455,000. 4. 5. By the time taxes are collected as a result of the Bond Election, Cabell County taxpayers will have paid off a bond issue approved fifteen years ago that allowed the county to build two new high schools, Cabell Midland High School and Huntington High School. e new bond issue will hold tax levy rates to a level close to what taxpayers have been paying during most of the past fifteen years. For instance, in fiscal years 2004 and 2005, Class II property owners paid a levy rate (cents per $100 of assessed values) of 15.80 and 16.00 respectively. If approved, the rate for Class II property as a result of a new bond issue would be 18.32. is is based on the current assessed values. Of course, that is based on the maximum inter- est rate of 7%. e rate could be lower based on market conditions at the time the bonds are sold. For example, based on the market rate quoted September 16, 2005, Class II property owners would have paid a levy rate 15.18, lower than what they have paid the past few years. We have included a chart on the next panel so you can compare. Please Make Your Voice Heard January 28, 2006! Will My Taxes Be Raised?