How much does the bond measure cost?
Bonds issued would be repaid annually by local property levies, which are not expected to increase from today’s rate. Currently, CUSD property tax levels are lower than they have been for decades and are lower than other area schools. This measure could generate $335 million to improve our schools. Assessed value is determined by the County Assessor and is often much closer to the original price of the home than to today’s market value.
What’s on the Ballot?
We’ve heard that the language on your November ballot can be confusing, even though it meets the requirements of recent legislation (AB195). If Clovis Unified says the current tax rate will stay the same, why does the ballot language refer to a new tax?
Put simply, Measure A doesn’t raise the current tax rate, it extends the rate to maintain our community’s existing investment in their schools. If passed, Measure A would allow for the sale of future bonds, which would replace bonds that are soon to be paid off. In the past, our community has told us that a consistent tax rate is important to them. In response Clovis Unified has structured its bond sales and repayments to maintain, but not raise, your tax rate.
Here’s what the ballot language says:
With no estimated increase to current tax rates, all funds staying local, and no money for administrators’ salaries, shall Clovis Unified School District’s measure to maintain neighborhood schools, upgrade security/ health measures and avoid overcrowding by: building, modernizing, and repairing school and career/ vocational facilities be adopted, authorizing $335 million in bonds at legal interest rates, levying 6¢ per $100 assessed value, raising $27.3 million annually to repay bonds through maturity, with required independent audits and citizens’ oversight?
How will the community be impacted with a bond measure?
The passage of a bond measure will mean improved school facilities at all school locations as well as the potential to create jobs in the region to help the local economy. Strong local schools have been proven to lead to stronger property values and increasing our community’s desirability to potential residents and employers. Facilities built in Clovis Unified and funded from previous bond measures have been credited by local tourism organizations with boosting the local economy by increasing the number of events and visitors to our community.
I don’t have kids in school, how would this benefit me?
We know our local schools are among the best in California, making our community a desirable place to live. This helps keep our property values high and our neighborhoods strong. Good quality schools reflect on an entire community.
What’s this I hear about a ballot measure that would fundamentally change the 1978 Prop 13 that controlled property tax rates in California?
What is on the November ballot does not have an impact on residential property taxes. Instead, the Schools and Communities First Initiative, as it is being called, would modify the manner in which assessed value of commercial and industrial property (not residential) is determined.