7/27/2019 WC 3 language no editorial.doc

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WC-3 Shall Washoe County be authorized to issue up to $10,750,000 of general

obligation bonds to provide an animal shelter project and to levy an additional

property tax rate for the purpose of operating and maintaining the animal shelter

project and performing related animal control functions of up to 3 cents per $100 of

assessed valuation for a period of up to 30 years? The bonds are expected to require

a property tax levy for 30 years. The bonds are estimated to result in an increase inthe property taxes that the owner of a new $100,000 home will pay which will

average $1.98 per year. In addition, the cost of the 3 cents animal shelter operating

property tax levy for the owner of a new $100,000 home is estimated to be $10.50

per year. However, an Interlocal Agreement between Reno, Sparks, and Washoe

County, requires the 3 cents operating property tax rate increase to be fully offset

by property tax reductions in the cities of Reno and Sparks of 3 cents and partially

offset by a property tax reduction of 1 cent in the unincorporated areas of the

County.