Property taxes pay for bonds. About 13 percent of property taxes in Oklahoma County go to Oklahoma City. The owner of a $100,000 house pays about $160 per year in City property taxes.
Bond program history
> Voters approved the bond package included in the Better Streets, Safer City election in September 2017. OKC voters approved the City's previous bond program in December 2007.
> The 2017 bond package includes $967 million in projects, and the 2007 package includes $835.5 million in projects.
> Projects part of the 2017 package will begin soon. Most of the 2007 package projects are complete, and some are ongoing.
> Projects include street resurfacing and widening, bridge repair and replacement, traffic flow improvements, drainage improvements, new and renovated libraries, police and fire facilities, new and improved parks, transit investments and economic development.
What are bonds?
> Bonds fund infrastructure projects like streets, bridges, sidewalks, parks, police and fire needs, libraries and more.
> Investors buy the bonds and the City repays them with property taxes over 20 years.
> OKC’s strong credit rating helps keep the bonds affordable.
> Bond programs fund years of construction projects. Voters approve the propositions.
> Funding is included for unexpected needs, and inflation is part of budget estimates.