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BOND INFORMATION

On behalf of everyone in the Salt Lake City School District, thank you for supporting our bond proposal to 

  • rebuild West and Highland High Schools, 
  • build an athletic field house at East High School, and
  • fund sustainability projects across the district. 

DISTRICT ISSUES FIRST BONDS WITH AFFIRMED AAA RATING

On Wednesday, May 21, 2025, the Salt Lake City School District will issue the first series of bonds approved by voters in the November 2024 bond election, marking a major milestone in its efforts to improve schools and educational facilities across the district. 

The bond issuance follows recent meetings with Fitch Ratings and Moody’s Investor Services, where both agencies reviewed factors such as the district’s financial operations, the strength of the local economy, and the planned use of bond funds. Both Fitch and Moody’s affirmed the district’s General Obligation bonds at a 'AAA' rating, the highest possible credit rating a school district can receive. Salt Lake City School District is one of very few school districts in the nation to have stand-alone AAA bond ratings from both Moody’s and Fitch, two of the nation’s top bond rating agencies.   “We are proud to have held our AAA bond rating for more than 25 years,” said Alan Kearsley, Business Administrator for Salt Lake City School District. “This is an external recognition of Salt Lake City School District’s longstanding practice of sound financial management and wise long-term planning. We are proud to be able to save our taxpayers money as we begin selling the bonds approved by our community last November.” 

ARCHIVED INFORMATION

Past Community Meetings

March 2025 Notice of Bonds to be Issued

FINANCIAL INFORMATION
Highland High School Rebuild Details
  • Total Estimated Budget: $300 million
  • Estimated Groundbreaking: April-May 2026
  • Construction Timeline: 46-48 months
  • Estimated Completion: 2030
 West High School Rebuild Details
  • Total Estimated Budget: $300 million
  • Estimated Groundbreaking: March 2026
  • Construction Timeline: 60-84 months
  • Estimated Completion: 2031-2033
 East High School Field House Details
  • Total Estimated Budget: $40 million
  • Estimated Groundbreaking: 24-36 months after other projects start
  • Project Timeline: 30 months
  • Estimated Completion: approximately 2030
 Sustainability Projects Details
  • Total Estimated Budget: $82 million
  • Estimated Start Date: Fall 2025
  • Project Timeline: 54 months
  • Estimated Completion: 2029

TAXPAYER IMPACT

The Salt Lake City School District and its Board of Education are committed to completing all projects outlined in the 2024 Bond Proposal within the approved funding amounts. If, for any reason, the funds from the general obligation bonds are insufficient, we will use property tax revenue generated by the capital levy to complete the projects. If it becomes necessary to use capital levy funds, future capital projects will need to be delayed or canceled.

It is anticipated that passing the bond will increase property taxes by $38.33 per year ($3.19 per month) for every $100,000 in home value. The median value of a home in Salt Lake City is $576,000, so the anticipated tax impact on a median-value home is $220.80 per year. The anticipated tax impact on a business in the city is $67.70 per year ($5.81 per month) for every $100,000 in value.

Salt Lake City taxpayers will likely start to see increases due to the bond on their property tax notices in August 2025.