The Many Flaws of Prop. 13, the 2020 Impostor

A couple of months ago, this column sounded the alarm concerning the big statewide school bond on the March 2020 ballot.

Voters have already started casting their ballots on this measure, ironically identified as Proposition 13 (2020). Unlike the beneficial Prop. 13 from 1978, this Prop. 13 is a huge $15 billion statewide school bond that threatens taxpayers in several ways. And the more we learn about this proposal, the worse it gets.

Although the amount of debt is “only” $15 billion — setting a new record for school bonds — the total cost will be $27 billion when interest costs are added.

We also pointed out that Prop. 13 (2020) is a huge threat to California property owners. While it is true that the bond itsef, plus interest, will be repaid out of the state’s general fund, local school districts are usually required to provide matching funds. Those matching funds are generated by local bond measures, which are repaid exclusively by property owners. The threat to homeowners is that, if Prop. 13 (2020) passes, those debt limits are nearly doubled.

After our original column ran back in November concerning the debt limit increase, several taxpayers inquired as to where that language could be found in the text of Prop. 13 in the ballot pamphlet, the state’s Official Voter Information Guide. And there’s the rub. Proposition 13 (2020) was placed on the ballot by the legislature through the passage of Assembly Bill 48.

To read the entire column, please click here.

Comments

  1. The Captive says

    I am sick of the bonds! They are lies and con us into thinking they will aid the project that they bond. No they lie about the purpose and will not do what we think either. I voted NO ON ALL OF THEM!

  2. With all the taxes we are now paying, I always vote NO to more taxes. That means NO votes on any bond proposals. No matter what the stated purpose is. We are paying plenty enough in taxes (or fees, whatever) now. The problem is in what is being done with the tax money we are already paying.

  3. People can stop this theft cold, but they don’t. Simply adding the terms “safety”, “schools” , or “children” in the title works like magic to get them passed. Education is a bus, and businesses require capital. Vote “No” or stop complaining.

  4. i have been voting NO for years. Its had little impact. .

  5. Sacramento’s swamp needs to be drained, and the ground it was on salted until nothing can grow from it for the next 6 generations.

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