Living in a Contra Costa County home may cost more if a proposed community-college bond measure passes. The Contra Costa Community College District wants to put a $450 bond measure on the June 2014 ballot. The bond measure, if passed, would raise property taxes.
The proposed bond measure would require homeowners to pay $13 per year more for each $100,000 of assessed value. On a home assessed at $1 million, the extra annual cost in property taxes would be $130. The extra money would be used to construct district buildings and facilities.
Bond measure parade
Owners of homes worth $1 million are already paying $43 extra per year to cover the demands of a 2002 bond measure that the college district issued. Voters passed the 2002 bond measure. In 2006, the district sponsored another bond measure. That bond measure passed and added $90 more per year to the property tax on a $1 million home.
The bond measure tax damage from the 2002 and 2006 measures combined are $133, again on a $1 million home. If the June 2014 measure passes, the total property tax covering the 2002, 2006, and 2014 measures would reach $263. Thus, the total impact of the proposed 2014 tax, if passed, would be a 98 percent increase in property taxes going to the district.
The college district makes use of Project Labor Agreement (PLA’s). These agreements require the use of union labor on construction projects, raising the costs of construction by 20 percent (or more).
In November 2012, California voters passed Proposition 30, a measure to provide more money for California’s schools. Why does the Contra Costa Community College District need even more money?
Proposition 30 raised California’s top personal income tax bracket to 13.3 percent. This is the highest top bracket in the nation. Even before Proposition 30 passed, California had the nation’s highest top bracket.
California also has the nation’s highest sales tax and the nation’s highest gasoline tax. The California State Legislature is the highest paid in the United States. Early in December 2013, the legislature got a huge pay hike, giving these overpaid lawmakers even more money.
At the federal level, two tax increases went into effect in January 2013.
If taxes keep increasing, Californians will have less money to consume goods and services and to invest in new or existing businesses.
California’s unemployment rate is 8.7 percent. The national rate is 7.0 percent. If Californians have to pay more in taxes, finding a job in the Golden State will become much harder than it already is.