Property taxpayers are in the eye of a brewing storm whipped up by the contrasting efforts to pass a statewide school construction bond initiative and the Brown Administration’s insistence that future school construction bonds be funded locally. Depending on which way this wind blows, local residential and business property taxpayers could be hit with a higher property tax burden.
There is also the danger than business properties, including small businesses, could be singled out for even higher taxes if local bonds rely on parcel taxes for repayment.
A $9 billion state school bond already has qualified for the ballot. Builders, building trades, business organizations, school districts and a bi-partisan array of elected officials support it. State school bonds are paid off by the General Fund and this is why the governor’s office objects. In his concern to protect the General Fund, Governor Brown wants local school districts to raise local taxes to pay for school construction bonds.