LONG RANGE TAX RATE PLANNINGJANUARY 6, 2015

JON GORESMANAGING DIRECTORPHONE: (206) 389-4043E-MAIL: JGORES@DADCO.COM

Shelton School District

2

Washington State Election ResultsSchool Districts Only

Source: Washington Secretary of State: Election and Voting website and individual County Auditor websites.

3

Washington State Election ResultsSchool Districts Only

38%41%

24%

28%

38%

53%

34%

45% 46%

37%

45%

38%

44% 45%

40%

23%

45%47%

15%

67%

48%

35%

199373

199499

199562

199678

199778

199855

199959

200040

200139

200243

200353

200434

200534

200660

200750

200835

200931

201019

201133

201218

201331

201440

Voting Patterns4

Source: State of Washington, Office of Superintendent of Public Instruction

Bond Issues Passed per Year(Years 1993 through November 2014 Inclusive)

Schools Only

34%

25%

29%

February485

April91

August4

November146

5

Source: State of Washington, Office of Superintendent of Public Instruction

Bond Issues Passed by Month – Statewide(Years 1992 through November 2014 inclusive)

Schools Only 66%

Voting Patterns

6

Bonds/M&O Levies on the Same Ballot

Source: OSPI and County Auditors/Elections Departments.

7

M&O / Capital Levies on the Same Ballot

8

Assumptions for Tax Rate Planning

Interest Rates

Bond Rating

Assessed Value

Bond Structure

Tax Rate Planning

9

A. Interest Rates- Lower interest rates result in lower tax rates for bonds.- Interest rates are determined when bonds are actually sold.- Assumption: Future Bond Sales Current rates plus 2.0 % (200 basis points).

Tax Rate Planning

3.00

3.15

3.30

3.45

3.60

3.75

3.90

4.05

4.20

4.35

4.50

4.65

4.80

4.95

5.10

5.25

Dec

-13

Jan-

14

Feb-

14

Mar

-14

Apr-

14

May

-14

Jun-

14

Jul-1

4

Aug-

14

Sep-

14

Oct

-14

Nov

-14

Dec

-14

Rate

s (%

)

Bond Buyer Index20-Year General Obligation Bond

(1 year history)

3.00

4.00

5.00

6.00

7.00

8.00

9.00

10.00

11.00

12.00

13.00

14.00

Dec

-89

Dec

-90

Dec

-91

Dec

-92

Dec

-93

Dec

-94

Dec

-95

Dec

-96

Dec

-97

Dec

-98

Dec

-99

Dec

-00

Dec

-01

Dec

-02

Dec

-03

Dec

-04

Dec

-05

Dec

-06

Dec

-07

Dec

-08

Dec

-09

Dec

-10

Dec

-11

Dec

-12

Dec

-13

Dec

-14

Rate

s (%

)

Bond Buyer Index20-Year General Obligation Bond

(25 year history)

10

B. Bond Rating- A higher bond rating results in lower interest rates.- Assumption: Aa1 (with State Guarantee)

A1 District Rating (Pending)

A Guide to Bond Ratings

Moody’s Investors Service – Founded 1909

Highest Quality Aaa

Aa1, Aa2, Aa3

A1, A2, A3

Baa1, Baa2, Baa3

Lowest Quality NR (Nonrated)

Tax Rate Planning

C. Bond Rating (continued)

Bond raters consider the local economy, District finances, and other factors

Assumption: Aa1 (State Guarantee)

A1 (District Rating, Pending)

11

Tax Rate Planning

DebtFactors Economy

YearHistorical Bond

AV TAVBond Levy Rate/$1000

2001 1,033,283,290 80,380,351 $0.41 N/A2002 1,030,818,465 77,710,550 $1.84 -0.2%2003 1,026,135,959 60,418,608 $2.31 -0.5%2004 1,024,745,349 47,820,534 $2.34 -0.1%2005 1,161,746,724 54,391,586 $2.23 13.4%2006 1,198,738,509 49,467,180 $2.14 3.2%2007 1,244,733,835 59,769,704 $1.94 3.8%2008 1,280,325,200 61,584,025 $1.91 2.9%2009 2,067,962,039 56,269,517 $1.22 61.5%2010 2,046,662,723 40,196,477 $1.26 -1.0%2011 2,046,038,882 38,970,506 $1.34 -0.03%2012 2,036,232,910 31,625,896 $1.34 -0.48%2013 1,692,339,659 42,536,838 $1.61 -16.89%2014 1,603,237,650 31,959,870 $1.70 -5.27%2015 1,611,720,045 32,941,296 $1.69 0.53%

% Change

12

Tax Rate PlanningD. Assessed Value

5 year Compound Annual Growth Rate (2010-2015): -4.7%10 year Compound Annual Growth Rate (2005-2015): 3.3%

*

* Preliminary

13

Actual Growth -4.7% 5yr Avg.

Annual Growth Rate

Tax Rate PlanningD. Assessed Value (continued)

14

Tax Rate Planning

Projected Assessed Value Growth

– Final 2014: -5.27% annual growth

– Preliminary 2015: .053% growth

– Projected 2016: 0% growth

– Projected 2017-2021: 1% annual growth

– Projected 2022-2040: 1.50% annual growth

Higher assessed values will lower the District’s tax rates (but not the overall payment)

An individual’s taxes will be based on the assessed value for their property

New construction vs. increase in value of existing property

D. Assessed Value (continued)

15

E. Bond Structure

State law gives Districts great flexibility in determining bond structures

Options:

– Level Debt

– Level Tax Rate

– Stepped Level Tax Rate

Tax Rate Planning

16

Rating:

Interest Rates:

Assessed Value Increases at:

Actual 2014

Preliminary 2015

2016-2035

Bonds Issued:Issue Size:Term (years):

Year Bond AV

Bond AV Growth

Rate M&O AV

M&O Growth

RateM&O Levy

Trans. Levy

Prior Debt

Debt Service

Fund Incr/

(Decr)

Total Bond Levy

Total School

LevyM&O Levy

Trans. Levy

Prior Debt

Debt Service

Fund Incr/ (Decr)

Total Bonds

Total School

Levy Rate Year

2002 1,030,818 -0.24% 991,963 -0.11% 3,500 - 1,900 1,900 5,400 3.53 - 1.84 1.84 5.37 20022003 1,026,136 -0.45% 995,927 0.40% 3,636 - 2,375 2,375 6,011 3.65 - 2.31 2.31 5.97 20032004 1,024,745 -0.14% 1,000,835 0.49% 3,636 - 2,400 2,400 6,036 3.63 - 2.34 2.34 5.98 20042005 1,161,747 13.37% 1,134,551 13.36% 3,950 - 2,585 2,585 6,535 3.48 - 2.23 2.23 5.71 20052006 1,198,739 3.18% 1,174,005 3.48% 3,895 - 2,565 2,565 6,460 3.32 - 2.14 2.14 5.46 20062007 1,244,734 3.84% 1,214,849 3.48% 4,689 - 2,415 2,415 7,104 3.86 - 1.94 1.94 5.80 20072008 1,280,325 2.86% 1,249,533 2.86% 4,902 - 2,450 2,450 7,352 3.92 - 1.91 1.91 5.84 20082009 2,067,962 61.52% 2,039,827 63.25% 5,379 - 2,520 2,520 7,899 2.64 - 1.22 1.22 3.86 20092010 2,046,663 -1.03% 2,026,564 -0.65% 5,905 - 2,569 2,569 8,474 2.91 - 1.26 1.26 4.17 20102011 2,046,039 -0.03% 2,026,554 0.00% 6,117 - 2,740 2,740 8,857 3.02 - 1.34 1.34 4.36 20112012 2,036,233 -0.48% 2,020,420 -0.30% 6,570 - 2,725 2,725 9,295 3.25 - 1.34 1.34 4.59 20122013 1,692,340 -16.89% 1,671,071 -17.29% 6,786 - 2,725 2,725 9,511 4.06 - 1.61 1.61 5.67 20132014 1,603,238 -5.27% 1,587,258 -5.02% 7,030 - 2,725 - 2,725 9,755 4.43 - 1.70 - 1.70 6.13 20142015 1,611,720 0.53% 1,578,779 -0.53% 7,130 - 2,830 (105) 2,725 9,855 4.52 - 1.76 (0.07) 1.69 6.21 20152016 1,611,720 0.00% 1,578,779 0.00% 7,230 300 2,885 2,885 10,415 4.58 0.19 1.79 - 1.79 6.56 20162017 1,627,837 1.00% 1,594,567 1.00% 7,330 300 2,955 2,955 10,585 4.60 0.18 1.82 - 1.82 6.60 20172018 1,644,116 1.00% 1,610,512 1.00% 7,403 3,010 3,010 10,413 4.60 - 1.83 - 1.83 6.43 20182019 1,660,557 1.00% 1,626,617 1.00% 7,477 - 3,133 3,133 10,611 4.60 - 1.89 - 1.89 6.48 20192020 1,677,162 1.00% 1,642,883 1.00% 7,552 - 3,201 3,201 10,753 4.60 - 1.91 - 1.91 6.51 20202021 1,693,934 1.00% 1,659,312 1.00% 7,628 - 3,291 3,291 10,918 4.60 - 1.94 - 1.94 6.54 20212022 1,719,343 1.50% 1,684,202 1.50% 7,742 - 1,037 1,037 8,779 4.60 - 0.60 - 0.60 4.27 20222023 1,745,133 1.50% 1,709,465 1.50% 7,858 - - - 7,858 4.60 - - - - 3.67 2023

Total Debt ServiceTotal InterestBond Yield

Shelton School District No. 309Scenario 1: TVF levy - $600,000 over two years

Calculation Factors Tax Rate Impact:A1 Moody's Rating - School Tax Rate in 2016 = $6.56 per $1,000 AV

Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail

- School Tax Rate in 2018 = $6.43 per $1,000 AVCurrent Rates plus 200 bps - School Tax Rate in 2022 = $4.27 per $1,000 AV

-5.27%

0.53%

1.29%

NOTES:- $600K TVF Levy

17

Rating:

Interest Rates:

Assessed Value Increases at:

Actual 2014

Preliminary 2015

2016-2035

Bonds Issued:Issue Size:Term (years):

Year Bond AV

Bond AV Growth

Rate M&O AV

M&O Growth

RateM&O Levy

Capital Levy

Trans. Levy

Prior Debt

Fed. Reimb. Pymt

Debt Service

Fund Incr/

(Decr)

Total Bond Levy

Total School

LevyM&O Levy

Capital Levy

Trans. Levy

Prior Debt

Debt Service

Fund Incr/ (Decr)

Total Bonds

Total School

Levy Rate Year

2002 1,030,818 -0.24% 991,963 -0.11% 3,500 - - 1,900 1,900 5,400 3.53 - - 1.84 1.84 5.37 20022003 1,026,136 -0.45% 995,927 0.40% 3,636 - - 2,375 2,375 6,011 3.65 - - 2.31 2.31 5.97 20032004 1,024,745 -0.14% 1,000,835 0.49% 3,636 - - 2,400 2,400 6,036 3.63 - - 2.34 2.34 5.98 20042005 1,161,747 13.37% 1,134,551 13.36% 3,950 - - 2,585 2,585 6,535 3.48 - - 2.23 2.23 5.71 20052006 1,198,739 3.18% 1,174,005 3.48% 3,895 - - 2,565 2,565 6,460 3.32 - - 2.14 2.14 5.46 20062007 1,244,734 3.84% 1,214,849 3.48% 4,689 - - 2,415 2,415 7,104 3.86 - - 1.94 1.94 5.80 20072008 1,280,325 2.86% 1,249,533 2.86% 4,902 - - 2,450 2,450 7,352 3.92 - - 1.91 1.91 5.84 20082009 2,067,962 61.52% 2,039,827 63.25% 5,379 - - 2,520 2,520 7,899 2.64 - - 1.22 1.22 3.86 20092010 2,046,663 -1.03% 2,026,564 -0.65% 5,905 - - 2,569 - 2,569 8,474 2.91 - - 1.26 1.26 4.17 20102011 2,046,039 -0.03% 2,026,554 0.00% 6,117 - - 2,740 - 2,740 8,857 3.02 - - 1.34 1.34 4.36 20112012 2,036,233 -0.48% 2,020,420 -0.30% 6,570 - - 2,725 - 2,725 9,295 3.25 - - 1.34 1.34 4.59 20122013 1,692,340 -16.89% 1,671,071 -17.29% 6,786 - - 2,725 - 2,725 9,511 4.06 - - 1.61 1.61 5.67 20132014 1,603,238 -5.27% 1,587,258 -5.02% 7,030 - 2,725 - - 2,725 9,755 4.43 - - 1.70 - 1.70 6.13 20142015 1,611,720 0.53% 1,578,779 -0.53% 7,130 - 2,830 - (105) 2,725 9,855 4.52 - - 1.76 (0.07) 1.69 6.21 20152016 1,611,720 0.00% 1,578,779 0.00% 7,230 300 2,885 - 2,885 10,415 4.58 - 0.19 1.79 - 1.79 6.56 20162017 1,627,837 1.00% 1,594,567 1.00% 7,330 - 300 2,955 - 2,955 10,585 4.60 - 0.18 1.82 - 1.82 6.60 20172018 1,644,116 1.00% 1,610,512 1.00% 7,403 1,529 3,010 - 3,010 11,942 4.60 0.93 - 1.83 - 1.83 7.36 20182019 1,660,557 1.00% 1,626,617 1.00% 7,477 1,544 - 3,133 - 3,133 12,155 4.60 0.93 - 1.89 - 1.89 7.41 20192020 1,677,162 1.00% 1,642,883 1.00% 7,552 1,560 - 3,201 - 3,201 12,313 4.60 0.93 - 1.91 - 1.91 7.44 20202021 1,693,934 1.00% 1,659,312 1.00% 7,628 1,575 - 3,291 - 3,291 12,494 4.60 0.93 - 1.94 - 1.94 7.47 20212022 1,719,343 1.50% 1,684,202 1.50% 7,742 1,599 - 1,037 - 1,037 10,378 4.60 0.93 - 0.60 - 0.60 6.13 20222023 1,745,133 1.50% 1,709,465 1.50% 7,858 1,623 - - - - 9,481 4.60 0.93 - - - - 5.53 20232024 1,771,310 1.50% 1,735,107 1.50% 7,976 - - - - 7,976 4.60 - - - - 4.60 20242025 1,797,880 1.50% 1,761,134 1.50% 8,096 - - - - - 8,096 4.60 - - - - - 4.60 20252026 1,824,848 1.50% 1,787,551 1.50% 8,217 - - - - - 8,217 4.60 - - - - - 4.60 2026

Total Debt ServiceTotal InterestBond Yield

Shelton School District No. 309Scenario 2: TVF Levy 2016-17, Capital Levy 2018-2023

- School Tax Rate in 2016 = $6.56 per $1,000 AV- School Tax Rate in 2018 = $7.36 per $1,000 AV

Assessed Value Summary ($000's) Levy Rate DetailLevy Amount Detail ($000's)

Tax Rate Impact:Calculation Factors

1.29%

A1 Moody's Rating

-5.27%

0.53%

N/A

NOTES:- $600K TVF Levy- $9.43 million 6 yr Capital Levy

18

Rating:

Interest Rates:

Assessed Value Increases at:

Actual 2014

Preliminary 2015

2016-2035

Issue 1 TotalBonds Issued: 6/1/21Issue Size: $43.75M $43.75MTerm (years): 19.5

Year Bond AV

Bond AV Growth

Rate M&O AV

M&O Growth

RateM&O Levy

Capital Levy

Trans. Levy

Prior Debt 2021

Total New Bonds

Debt Service

Fund Incr/

(Decr)

Total Bond Levy

Total School

LevyM&O Levy

Capital Levy

Trans. Levy

Prior Debt 2021

Total New

Bonds

Debt Service

Fund Incr/ (Decr)

Total Bonds

Total School

Levy Rate Year

2002 1,030,818 -0.24% 991,963 -0.11% 3,500 - - 1,900 1,900 5,400 3.53 - - 1.84 1.84 5.37 20022003 1,026,136 -0.45% 995,927 0.40% 3,636 - - 2,375 2,375 6,011 3.65 - - 2.31 2.31 5.97 20032004 1,024,745 -0.14% 1,000,835 0.49% 3,636 - - 2,400 2,400 6,036 3.63 - - 2.34 2.34 5.98 20042005 1,161,747 13.37% 1,134,551 13.36% 3,950 - - 2,585 2,585 6,535 3.48 - - 2.23 2.23 5.71 20052006 1,198,739 3.18% 1,174,005 3.48% 3,895 - - 2,565 2,565 6,460 3.32 - - 2.14 2.14 5.46 20062007 1,244,734 3.84% 1,214,849 3.48% 4,689 - - 2,415 2,415 7,104 3.86 - - 1.94 1.94 5.80 20072008 1,280,325 2.86% 1,249,533 2.86% 4,902 - - 2,450 2,450 7,352 3.92 - - 1.91 1.91 5.84 20082009 2,067,962 61.52% 2,039,827 63.25% 5,379 - - 2,520 2,520 7,899 2.64 - - 1.22 1.22 3.86 20092010 2,046,663 -1.03% 2,026,564 -0.65% 5,905 - - 2,569 2,569 8,474 2.91 - - 1.26 1.26 4.17 20102011 2,046,039 -0.03% 2,026,554 0.00% 6,117 - - 2,740 - 2,740 8,857 3.02 - - 1.34 1.34 4.36 20112012 2,036,233 -0.48% 2,020,420 -0.30% 6,570 - - 2,725 - 2,725 9,295 3.25 - - 1.34 1.34 4.59 20122013 1,692,340 -16.89% 1,671,071 -17.29% 6,786 - - 2,725 - 2,725 9,511 4.06 - - 1.61 1.61 5.67 20132014 1,603,238 -5.27% 1,587,258 -5.02% 7,030 - 2,725 - - - 2,725 9,755 4.43 - - 1.70 - - - 1.70 6.13 20142015 1,611,720 0.53% 1,578,779 -0.53% 7,130 - 2,830 - - (105) 2,725 9,855 4.52 - - 1.76 - - (0.07) 1.69 6.21 20152016 1,611,720 0.00% 1,578,779 0.00% 7,230 300 2,885 - - 2,885 10,415 4.58 - 0.19 1.79 - - - 1.79 6.56 20162017 1,627,837 1.00% 1,594,567 1.00% 7,330 - 300 2,955 - - 2,955 10,585 4.60 - 0.18 1.82 - - - 1.82 6.60 20172018 1,644,116 1.00% 1,610,512 1.00% 7,403 1,529 3,010 - - 3,010 11,942 4.60 0.93 - 1.83 - - - 1.83 7.36 20182019 1,660,557 1.00% 1,626,617 1.00% 7,477 1,544 - 3,133 - - 3,133 12,155 4.60 0.93 - 1.89 - - - 1.89 7.41 20192020 1,677,162 1.00% 1,642,883 1.00% 7,552 1,560 - 3,201 - - 3,201 12,313 4.60 0.93 - 1.91 - - - 1.91 7.44 20202021 1,693,934 1.00% 1,659,312 1.00% 7,628 1,575 - 3,291 - - 3,291 12,494 4.60 0.93 - 1.94 - - - 1.94 7.47 20212022 1,719,343 1.50% 1,684,202 1.50% 7,742 1,599 - 1,037 3,091 3,091 (790) 3,337 12,678 4.60 0.93 - 0.60 1.80 1.80 (0.46) 1.94 6.54 20222023 1,745,133 1.50% 1,709,465 1.50% 7,858 1,623 - - 2,600 2,600 790 3,390 12,872 4.60 0.93 - - 1.49 1.49 0.45 1.94 6.54 20232024 1,771,310 1.50% 1,735,107 1.50% 7,976 - - 3,441 3,441 3,441 11,417 4.60 - - 1.94 1.94 - 1.94 6.54 20242025 1,797,880 1.50% 1,761,134 1.50% 8,096 - - - 3,494 3,494 3,494 11,589 4.60 - - - 1.94 1.94 - 1.94 6.54 20252026 1,824,848 1.50% 1,787,551 1.50% 8,217 - - - 3,545 3,545 3,545 11,762 4.60 - - - 1.94 1.94 - 1.94 6.54 20262027 1,852,221 1.50% 1,814,364 1.50% 8,340 - - - 3,598 3,598 3,598 11,938 4.60 - - - 1.94 1.94 - 1.94 6.54 20272028 1,880,004 1.50% 1,841,579 1.50% 8,465 - - - 3,652 3,652 3,652 12,118 4.60 - - - 1.94 1.94 - 1.94 6.54 20282029 1,908,204 1.50% 1,869,203 1.50% 8,592 - - - 3,707 3,707 3,707 12,299 4.60 - - - 1.94 1.94 - 1.94 6.54 20292030 1,936,827 1.50% 1,897,241 1.50% 8,721 - - - 3,762 3,762 3,762 12,483 4.60 - - - 1.94 1.94 - 1.94 6.54 20302031 1,965,880 1.50% 1,925,700 1.50% 8,852 - - - 3,822 3,822 3,822 12,674 4.60 - - - 1.94 1.94 - 1.94 6.54 20312032 1,995,368 1.50% 1,954,585 1.50% 8,985 - - - 3,877 3,877 3,877 12,862 4.60 - - - 1.94 1.94 - 1.94 6.54 20322033 2,025,298 1.50% 1,983,904 1.50% 9,120 - - - 3,937 3,937 3,937 13,057 4.60 - - - 1.94 1.94 - 1.94 6.54 20332034 2,055,678 1.50% 2,013,663 1.50% 9,257 - - - 3,996 3,996 3,996 13,252 4.60 - - - 1.94 1.94 - 1.94 6.54 20342035 2,086,513 1.50% 2,043,867 1.50% 9,395 - - - 4,054 4,054 4,054 13,449 4.60 - - - 1.94 1.94 - 1.94 6.54 20352036 2,117,811 1.50% 2,074,525 1.50% 9,536 - - - 4,115 4,115 4,115 13,651 4.60 - - - 1.94 1.94 - 1.94 6.54 20362037 2,149,578 1.50% 2,105,643 1.50% 9,679 - - - 4,174 4,174 4,174 13,853 4.60 - - - 1.94 1.94 - 1.94 6.54 20372038 2,181,821 1.50% 2,137,228 1.50% 9,825 - - - 4,240 4,240 4,240 14,065 4.60 - - - 1.94 1.94 - 1.94 6.54 20382039 2,214,549 1.50% 2,169,286 1.50% 9,972 - - - 4,302 4,302 4,302 14,274 4.60 - - - 1.94 1.94 - 1.94 6.54 20392040 2,247,767 1.50% 2,201,826 1.50% 10,121 - - - 4,369 4,369 4,369 14,491 4.60 - - - 1.94 1.94 - 1.94 6.54 20402041 2,281,483 1.50% 2,234,853 1.50% 10,273 - - - - - - 10,273 4.60 - - - - - - - 4.60 2041

Total Debt Service $71,775 $71,775Total Interest $28,025 $28,025Bond Yield 4.89%

Assessed Value Summary ($000's) Levy Amount Detail ($000's) Levy Rate Detail

- School Tax Rate in 2018 = $7.36 per $1,000 AVCurrent Rates plus 200 bps - School Tax Rate in 2022 = $6.54 per $1,000 AV

-5.27%

0.53%

1.29%

Shelton School District No. 309Scenario 3: TVF Levy 2016-17, Capital Levy 2018-2021, Bond Election in 2021, Maximize bond rate at 1.94, 20 yr Term, Interfund Loan

Calculation Factors Tax Rate Impact:A1 Moody's Rating - School Tax Rate in 2016 = $6.56 per $1,000 AV

NOTES:- $600K TVF Levy- $6.208 million Capital Levy (2022-23 would not be collected)- $43.75 million Bond

19

Total Tax Rate Comparison

Mason County School Districts2014 Total Tax Rates

DistrictAssessed

Value(1) ($) Bonds ($) M&O ($)Capital

Projects ($) Trans. ($) Total ($)

Hood Canal School District No. 404 1,062,903,829 0.7526 1.3804 -- -- 2.1330

Pioneer School District No. 402 1,213,031,123 -- 2.3483 -- -- 2.3483

Grapeview School District No. 54 611,414,084 1.3607 1.0831 -- -- 2.4438

North Mason School District No. 403 (2) 1,925,028,067 1.2960 2.1456 -- -- 3.4416

Mary M. Knight School District No. 311(3) 163,512,139 -- 3.7428 -- -- 3.7428

Elma School District No. 68/137(3) 733,647,864 -- 4.3217 -- -- 4.3217

Southside School District No. 42 192,993,635 1.5130 3.2209 -- -- 4.7339

McCleary School District No. 65(3) 188,583,770 2.5701 3.3900 -- -- 5.9601

Shelton School District No. 309 1,603,237,650 1.6996 4.4290 -- -- 6.1286

(1) Bond Assessed Value does includes TAV.(2) Mason and Kitsap Counties(3) Mason and Grays Harbor CountiesSource: County Assessors Offices.

20

Total Tax Rate Comparison

Comparable-sized School Districts2014 Total Tax Rates

DistrictAssessed

Value(1) ($) Bonds ($) M&O ($)Capital

Projects ($) Trans. ($) Total ($)

Chimacum School District No. 49 1,643,229,182 1.5060 0.7993 2.3053

Lake Chelan School District No. 129J 1,721,208,391 -- 1.6836 0.7257 -- 2.4093

Chehalis School District No. 302 1,588,307,181 -- 2.7884 -- -- 2.7884

North Mason School District No. 403 1,925,028,067 1.2960 2.1456 -- -- 3.4416

Othello School District No. 147 1,036,175,936 2.0540 2.3360 -- -- 4.3900

Lakewood School District No. 306 1,656,862,983 --- 3.1452 2.1198 --- 5.2650

Yelm Community Schools No. 2 1,922,836,723 1.7918 4.1892 -- -- 5.9810

Shelton School District No. 309 1,571,277,780 1.6996 4.4290 -- -- 6.1286

Aberdeen School District No. 5 1,210,852,154 2.0650 4.1694 6.2344

Dieringer School District No. 343 1,317,251,243 2.5683 3.8026 6.3709

White River School District No. 416 1,951,722,118 3.4057 4.0177 7.4234

Granite Falls School District No. 332 1,043,860,623 2.9603 3.8924 0.5964 --- 7.4490

*Bond Assessed Value does not include TAV(1) Individual County Assessed Values

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The 2015 special election dates and ballot resolution filing deadlines pursuant to the Revised Code of Washington (“RCW”) are listed below for your information.(1) These are the dates permitted under current law, which are subject to change by the Legislature.

2015ELECTION DATE

RESOLUTIONFILING DEADLINE (2)

APPROXIMATE DATE BALLOTS ARE MAILED (3)

February 10, 2015 December 26, 2014 January 23, 2015

April 28, 2015 March 13, 2015 April 10, 2015

August 4, 2015 (Primary) May 8, 2015 July 17, 2015

November 3, 2015 (General) August 4, 2015 October 16, 2015

(1) This data is for informational purposes only and does not take the place of local, state or federal laws. Specific RCW information can be found at: http://www.secstate.wa.gov/elections/election_laws.aspx.

(2) Some dates may have been adjusted to reflect the business day prior to actual resolution filing date, according to RCW 29A.04.330, if falling on a weekend.

(3) Applies to both mail and absentee ballots. Absentee ballots are required to be mailed no later than 18 days prior to the election date. RCW 29A.40.070Source: Washington Secretary of State’s Office, Elections and Voting website.

2015 Special Election & Resolution Filing Dates

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