Thursday, September 24, 2020

Community Voices: Prop E – A Wise Investment

As an involved parent of three young children and a Coronado homeowner, I am hearing some concerned views about the cost of the school bond measure on the June ballot. Proposition E is about one thing: protecting the outstanding quality of education in Coronado schools from severe cuts and long-term harm.

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Let’s consider these facts about Prop E. The bond would cost property owners $40.00 per $100,000 of assessed property value. As we know, assessed home values are what we are taxed on and are generally much lower than current market values. The median (1/2 above, 1/2 below) assessed value of single family homes and condos in Coronado is about $615,000, which equates to $246 per year. Of note, approximately 75% of all Coronado single family homes and condos are currently assessed below $1M. The cost of Prop E will be less than $400 per year for those 75% of homeowners, and in fact will be significantly less than that when you deduct it from your annual income taxes.

We all care about costs, but whether or not you have school-aged children, this bond is a wise investment to not only protect the quality of their education but also preserve home values in our vibrant community. The State of California created this current problem, not our school district. Let’s solve it locally – together – and pass Prop E.

If you care to be further informed on this crucial measure, I found this website to be very helpful:

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YES on E, FAQ’s

*Median assessed values for Coronado single family homes and condos (and overall data for percentage analysis) is from the San Diego County Treasurer/Assessor’s office.

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