Submitted DocumentsLibrary Commission 02/05/20
Oral Communications
Presentation from Community
Member Peggy Griffin
Bond Measures Versus Parcel Taxes — Why Should I Care?
by Peggy Griffin
revised February 5, 2020
The March 3rd, 2020 election ballot includes a bond measure and 2 parcel tax measures. To make an informed
decision, it is critical that we, as voters and taxpayers, know the difference between a bond measure, a parcel
tax and how each affects our property taxes now and 20 years from now. School districts use parcel taxes and
bond measures to get money for projects, programs and services. They both affect our property taxes but in
different ways.
A parcel is the smallest piece of land that can be bought or sold. A house, a condo and an entire apartment
complex are usually each one parcel. A parcel tax is a fixed amount of money for a fixed number of years,
often 5-8 years, taxed to each parcel. So, a house, a condo and an apartment complex all pay the same
amount each year. A business may be one or more parcels where each parcel pays the tax.
Bonds are Moans that school districts get from investors by selling bonds. The school districts borrow the
money from investors and promise to pay them back with interest, similar to our home mortgages. The
money to payback this debt comes from our property taxes. The taxpayers must payback this money with
interest over a period of usually 25-35 years. This means the borrowed money can all be spent in less than 10
years, but the taxpayers will continue paying off the debt for 25-35 years.
DIFFERENCES between a PARCEL TAX and a BOND MEASURE
Differences
Parcel Tax
Bond Measure
1-Tax amount
-Fixed rate per parcel.
-Rate changes every year
paid each year
-Not based on assessed value.
-Based on assessed value of your
-Each parcel pays the same amount
property.
(house, condo, entire apartment
-The higher your assessed value, the
complex)
more you pay.
2-How long it
stays on your tax
5-8 years
25-35 years
bill
3-Exemptions
Usually senior citizens, disabled
None
4-How the money
Programs, services and salaries
Construction -related projects
can be used
66.7%
55%
S-Votes required
to pass it
SCHOOL BOND MEASURES
CUSD
(Cupertino Union Elem K-8)
FUHSD
(Fremont Union High School)
FHDACC
(Foothill-DeAnza Comm College)
1995 Measure Number 10:
1998 Bond Measure H:
1999 Bond Measure E:
$71M, expires in 2030
$144M, expires ?
$248M, expires 2036
2008 Bond Measure B:
2006 Bond Measure C:
2001 Bond Measure C:
$198M, expires 2044
$490.8M, expires 2040
$80M, expires ?
2014 Bond Measure K:
$295M, expires 2048?
2020 Bond Measure G
2012 Bond Measure H:
2018 Bond Measure CC:
$898M, expires 2054
$220M, expires 2041
$275M, expires 2050
TOTAL we pay 2019-2020:
TOTAL we pay 2019-2020:
TOTAL we pay 2019-2020:
$20.80 per $100k
$41.50 per $100k
$47.90 per $100k
$20.80+516.00 = $36.80
$415.00 for $1M home
$479.00_for -$1M home
TOTAL = $36.80 in 2020-2021
($41.50 * 10)
($47.90 * 10)
$208.00 for 1M home
Exemptions:
Exemptions:
Exemptions:
None
None
None
i
CUSD
(Cupertino Union Elem K-8)
2014 Measure A:
$250/yr. for 8 years
(7/2015-6/2023)
2020 Measure 0 (
$125/yr. for 5 years
(7/2020-6/2025)
NOTE:
Total $375/yr. during 3-year
overlap
(7/2020-7/2023)
Exemptions:
Seniors 65+, disabled
Serves:
Cupertino, parts of Saratoga, San
Jose & Sunnyvale
SCHOOL PARCEL TAXES
FUHSD
(Fremont Union High School)
2014 Measure J:
$98/yr. for 6 years
(7/2016-6/2022)
Exemptions:
Seniors 65+, disabled
Serves:
Cupertino, parts of San Jose &
Sunnyvale
FHDACC
(Foothill-DeAnza Comm College)
2020 Measure H ( .
$48/yr. for 5 years
(7/2020-6/2025)
Exemptions:
None
Serves:
Cupertino, Sunnyvale, Los Altos,
Los Altos Hills, Mt View, Palo Alto
MARCH 3, 2020 BALLOT SUMMARY
CUSD — PARCEL TAX "MEASURE O"
$125/yr. for 8 years
Overlaps current parcel tax of $250/yr for 3 years
Total for next 3 years will be $375/yr
FHDACC (Foothill -De Anza Community College) — PARCEL TAX "MEASURE H"
$48/yr. for 5 years
FHDACC (Foothill -De Anza Community College) — BOND "MEASURE G"
$989M with NO PLAN for the $
Expires in 2054! 34 years! !
Library Commission 02/05/20
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