Dispatches from the Eccentric Frontier

I have a silly, naive question. What does it mean when a school bond measure says "... College district's measure authorizing $X in bonds, levying $13/$100,000 assessed value..."? Is this like a parcel tax, with money coming from home owners via their property tax bill? Maybe I am misunderstanding the math, but it seems if someone had a home with $500,000 assessed value that this would levy $6,500 from them?? I have to assume I have really gotten something wrong here.

Sorry for the silly question, but you were the first person I thought of when the question came up for me.