[quote=joec]In the end, there is simply no money to go around anywhere from the states/city/local gov anymore so unless you want the schools to all collapse and pretty much be crap, I think cities will have to do something.[/quote]
There would have been more money to go around for CA public school districts had it not been for Prop 13’s pass-thru provisions of assessed value of properties deeded to family members (via Props 58 and 193).
This special tax treatment hasn’t and won’t die with the original (April 1978) property owners. The result is that much younger “heir” owners are now enjoying a drastically reduced assessment on their properties (abt $45K to $150K) when the actual assessment should be $250K to $2,500,000. A portion of these “heir” owners currently have children attending public schools.
As I have posted before, I do not support Props 58 and 193 because they amount to unjust enrichment of thousands of dollars per year for a few taxpayers at the expense of many. And many of those whose assessment is “protected” by Props 58/193 have children in school and many more are already heavy users of city and county services.
I support the older homeowners who are still residing in their Prop 13-protected property to live out the remainder of their lives with this special tax treatment. They are the sole reason why Prop 13 was written for and passed. After their deaths, their properties should be reassessed at market value, IMHO.
As it stands, CA school districts will continue to have this problem of not enough property tax coming in (in its older areas) to rehab/rebuild schools unless bond measures are passed to pay for it. Essentially, this was the purpose of Prop C in Poway. The money was used to rehab older schools and build a new HQ. The MR areas within the PUSD already had newer schools, paid for with MR.
[quote=joec]I wouldn’t be surprised if more school districts did this and “kick the can down the road” so to speak.[/quote]
After all the national coverage on this debacle, I highly doubt taxpayers in ANY US school districts would be stupid enough to vote in “pulling a poway.”
[quote=joec]Not having to pay any interest in 20 years is also pretty sweet.[/quote]
Not if property taxes have to be raised “in the triple digits” to pay all that deferred interest down.
