Election 2020: Voters asked to approve or reject bonds for school and public libraries
AZTEC — Voters in November are asked to approve or reject issuing bonds that would provide funding to public and school libraries across the state.
General obligation bonds are backed by property tax and every couple of years voters are asked to approve or reject issuing the bonds. Approving the measure will not raise property tax, however property tax could decrease slightly if the measure is rejected.
General Obligation Bond B is one of three bond measures on the Nov. 3 ballot. If approved, it would result in a more than $9.75 million investment into libraries. A total of $3 million will be distributed to public libraries across the state and another $500,000 will go to tribal public libraries. Nearly $2.78 million would go to public school libraries and charter schools could receive more than $208,000.
According to NM Bonds for Libraries, General Obligation Bond B will cost homeowners 54 cents per year for a home valued at $100,000. If all three bonds are approved, the organization states the measures will cost $10.99 per year for a home valued at $100,000.
Bonds for Libraries is a special interest group focused on getting the bond measure approved.
That means if the measures are rejected, homeowners could see a nearly $11 decrease in annual property taxes for a home valued at $100,000.
NM Bonds for Libraries calculated how much each library could receive if the bond measure is approved. The amount of money that each library can receive is in part determined by estimated 2019 census numbers.
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The largest allocation would go to the Albuquerque/Bernalillo County Library System. NM Bonds for Libraries has calculated that the library system could receive more than $877,000.
In San Juan County, Farmington Public Library would receive the largest allocation of nearly $125,900. Meanwhile, Bloomfield Public Library may get more than $25,000 and Aztec Public Library could receive nearly $22,000.
School libraries in San Juan County could receive the following amounts:
- Aztec Municipal School District: $23,204.12
- Bloomfield School District: $25,842.06
- Central Consolidated School District: $64,316.53
- Farmington Municipal Schools: $67,664.78
- Mosaic Academy: $3,289.65
Hannah Grover covers government for The Daily Times. She can be reached at 505-564-4652 or via email at firstname.lastname@example.org.