Do you remember the infamous Poway Unified School District (PUSD) bonds that made national headlines?
The basic facts are that for $105 million face value of bonds, Poway voters approved the PUSD Prop C tax hike in 2008. In return, Poway homeowners are indebted to pay $1 BILLION over forty years between 2011 and 2051!
You can read about the PUSD Prop C tax hike debacle by reading:
- Voice of San Diego (VOSD) August 6, 2012 article Where Borrowing $105 Million Will Cost $1 Billion: Poway Schools by clicking here,
- CalWatchDog August 8, 2012 article The Right Way, The Wrong Way and the Poway of School Bond Financing by clicking here,
- New York Times article August 16, 2012 Schools Pass Debt to the Next Generation by clicking here.
Just like CUSD’s Prop E property tax hike scheme is outrageous for reasons you’ve read about on this website, so too, the 2008 PUSD tax hike is an outrageous tax hike scheme.
Similarities Between Coronado & Poway Tax Hike Propositions
The probability is great that if CUSD could issue CABs, then it would do so. Since CABs have come under strict public scrutiny and since the California State Legislature is contemplating outlawing CAB use by California school districts, CABs aren’t available to CUSD at this time.
Still there are many similarities between CUSD’s Prop E tax hike scheme and Poway’s Prop C tax hike scheme. Both are tax hike schemes presented by the school districts with slick sleight of hand tricks that are impossible for voters to fully understand.
Remember the biggest losers in both tax hike schemes are the homeowners and taxpayers in both Coronado and Poway.
In truth, the similarities far outweigh the differences between CUSD’s Prop C and PUSD’s Prop C property tax hikes to fund school bond debt financing.
Indeed there are many similarities between the 2008 PUSD Prop C debacle and the 2014 CUSD Prop E debacle. Three of those similarities are:
- In both Coronado and Poway, voters weren’t provided enough information. Reading the ballot statement and pro-school bond ballot arguments, it impossible for voters to understand the extreme tax burden these property tax hike schemes place directly on homeowners, and indirectly on renters to whom the property tax hikes are passed through.
- CUSD and PUSD refused to make the hard choices, cut costs, and balance their budgets. Both school districts “kicked the can” and demanded that homeowners raise property taxes on themselves through ill-advised propositions.
- CUSD and PUSD didn’t tell the truth. If they were honest, then voters wouldn’t ever vote for the tax hikes in the propositions that both school districts put on the ballot.
What the Future May Hold For Coronado
In the August 6, 2012 VOSD article, author Will Carless notes what people are saying about the Poway bond:
- “If they ever told the truth, they would never get these approved by the voters.” ~ Glenn Byers, Los Angeles County assistant treasurer and tax collector.
- “This is way worse than loan sharking. And Poway is the poster child. What they have done is absolutely insane.”~ Michael Turnipseed, executive director of the Kern County Taxpayers Association in central California.
Six years ago in 2008 Poway voters were fooled into approving Poway Proposition C.
Will Coronado voters also be fooled into voting for the Prop E property tax hike on June 3?
Many years from now, will there be VOSD, CalWatchDog and New York Times articles published about the insane Coronado school bond debt financing scheme called Prop E in 2014?
Will those future articles reveal that Coronado voters weren’t provided enough information in the ballot statement and other CUSD materials to make informed decisions on whether or not to raise property taxes on themselves and their neighbors? Will those articles say that CUSD didn’t tell the truth because if they did, then Coronado voters would never have voted for the Prop E property tax hike? Will they state that CUSD’s Prop E tax hike scheme merely allowed CUSD to “kick the can” instead of make the hard choices to cut costs, balance their annual budgets and get their finances in order?
There is no such thing as a free lunch, Coronado.
If Coronado voters truly care about CUSD students, then they will send a strong message to CUSD that the CUSD superintendent and trustees must get their financial house in order, cut costs, balance their annual budgets, and stop “kicking the can” down the road.
Coronado voters can send this strong message with a NO vote on Prop E.
Vote NO on Prop E on June 3!