What would the local option levy cost?

  • The Lake Oswego Local Option Levy was first passed in 2000 and increased 2004. The 2019 Local Option Levy would maintain existing funding while levying homeowners an additional $0.25 per $1,000 of assessed value for a total of $1.64 per $1000 assessed value. The median assessed home value is $450,000. Assessed values are typically lower than real market values. If the levy passed, the median homeowner in Lake Oswego would pay an additional cost of approximately $9.33 per month.

    Spending would be subject to annual audits. If passed, this measure would succeed the current school levy at a maximum rate of $1.64 per $1000 of assessed home value. The levy is estimated to raise $13 million beginning with the 2019-2020 fiscal year plus 3% each fiscal year thereafter, concluding with the 2023-2024 fiscal year, for a total of $69 million over five years.