A. School Bond

What's on our San Francisco ballot November 2006

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A. School Bond

Postby lapoinma on Thu Sep 28, 2006 4:57 pm

School Bond and Tax Rate Statement. Bond Measure.

by Tim Hsu

Summary: Would authorize $450 million in school repair bonds. Important: These repairs are at least partly because of the settlement terms of a disability access lawsuit, which means that if this doesn?t pass, $450 million (or at least a big chunk of it) will have to come out of the school budget.

The net effect would be a property tax increase of about $22.50 per $100,000 assessed value, which would be about 2% over the current tax level. For a median new SF homeowner (new homeowners would almost certainly get hit the hardest), this would be about $200/year. For reference, the 2004-2005 property tax rate was 1.144%, and would change to something like 1.16-1.17% for several years; nationwide, property tax rates in urban areas generally run between 1.6% and 1.7%. (This is not including the effects of reassessment limitations from Prop 13.)

Arguments for: The repairs have to be done, and the alternative is probably closing schools and laying off school employees. Has widespread support, from SF left wing to SF Chamber of Commerce.

Arguments against: Our taxes would go up. Renters would also get taxes passed on to them. SF housing is too expensive as it is.
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