Invest in Our Community's Future
After years of saving money and planning for the most efficient, cost-effective public safety and maintenance building for essential city staff doing our most critical public safety and infrastructure needs, our City Council voted unanimously to support this important bond campaign. City staff and our community leadership have done the careful, thoughtful planning and prudent budget work to prepare for the future public safety and city maintenance with this bond measure. Join us in supporting our dedicated, proven city staff in our shared effort to sustain Mercer Island's safe, reliable, efficient, critical services.
How much would the PSM bond measure cost property owners?
The bond measure authorizes the sale of up to $103,160,000 in bonds with a term of up to 25 years to fund the design and construction of the PSM Facility. The measure also authorizes an increase in property taxes via an excess levy to pay back principal and interest of the bonds. This debt service is expected to remain level each year over the life of the bonds. For example, in 2026 the estimated levy rate is $0.33/$1,000 of assessed value for a Mercer Island home. For a home with a $2,000,000 assessed value, the approximate cost of the excess levy is about $55 per month over the life of the levy.