***DANGER***Â Â The ‘new’ Prop 13 – Voting March 3, 2020
Local school district bonds circumvent the original proposition 13 and you can see them on your property tax bills right now.
Â
What this new prop 13 will do, is almost double the limits that school districts can borrow. It’s right there if you take the time to read the fine print in the proposition.
New California Proposition 13
It says that the amount elementary and high school districts can put on in additional bond funding will go from the current 1.25% to 2% of the assessed property value for unified school districts and community college districts the limit would be raised from the current 2.5% to 4% of the assessed property value!
This means the amount of the bonds the school districts can issue bonds & not what percent your property taxes will rise! How much your property taxes will increase is hard to say. But, what is sure, is that your local school districts will be able to issue almost double the amount of bonds they can now! Plus, your property taxes will also go up to cover the costs of the new higher bonds!
Don’t be folded again!
Â
If this is so important why does in California use its $22 billion budget surplus to take care of these problems? Now they want $15 billion in new bonds! If CA would use their $22 billion budget surplus, that would still leave CA with a $7 billion surplus! Plus, they would not be on the hook to pay any interest on bond issue!
Â
Yes, it is estimated the interest on this new bond amount to $12 billion! So, by the time it is paid off, the total will be $27 billion!
Â
This is the largest CA bond proposal ever!
Â
CA voters approved $9 billion in 2016 to build & repair schools . . . what happened to that money?
***CA voter deception tip-off***
If you notice, the State’s official voter information Guide, which is 47 pages, is only about ONE issue – this new Prop 13. As this is the largest CA bond issue ever, why not put it on the regular November ballot??? Why not save the HUGE cost in printing and mailing this guide?
Â
The answer is really quite simple, these special/primary elections always have very small voter participation as compared to the presidential/regular Nov. voting. This makes it perfect for the teachers union, public employees union, and union construction workers get all their members out to crowd out (it’s just a numbers game) the regular voters! This would be much harder to do in the November elections.
This should not be considered real estate, tax or legal advice. . . This is just my personal opinion based on over 3 decades in San Diego residential real estate.
Â
The only way the politicians can ever learn to spend within their limits, like regular people, is if you vote down all new taxes and all new bond measures!
The Howard Jarvis Taxpayers Association (www.hjta.org ) is against this proposition.
*Help get the truth out – post a link to this article on all social media & email it to all your friends.
++++++
If you are interested in my opinion on the San Diego residential real estate market, I would suggest you look at my video (published in December) on what I see for this year in San Diego:
*** This 21 year old San Diego real estate is for sale! Also, aged real estate sites in many California cities are for sale.
2020 San Diego real estate market forecast
++++++++++++++++++++++++++
Visit our Youtube San Diego real estate channel
+++++++++++++++++++
