"Collins' point is simple. The amount the school district gets from property tax assessments is increasing. Meanwhile, enrollment is declining. The district has fewer kids to educate. Collins says that 10 years ago, the district's total funding was about $16,000 a student. This year, that number is more than double - $35,000 per student. If current trends continue, in three years it will be $43,000, and in five years, it will reach almost $50,000."
"Despite this increase, the school board is moving ahead with an election to get voters to renew the parcel tax next June. Their tentative plan is to get voters to approve the tax for seven more years. This is greedy. People are willing to part with their hard-earned money if there's a real need. But the parcel tax is no longer necessary."
"Collins isn't one of those kooks who goes to the microphone at board meetings to make off-the-wall comments. Collins' background is finance, and before he was on the board, he blew the whistle on a plan to issue capital appreciation bonds (CABs) that have high, compounded interest rates. His concerns stopped the board from issuing the bonds, ultimately saving the district $850 million."
Parcel tax of $941 per year is slated for a renewal election next June with a tentative plan to extend it seven more years. Property tax assessments have increased while enrollment is declining, producing higher per-student funding. Per-student funding rose from about $16,000 ten years ago to $35,000 now, projected to reach $43,000 in three years and nearly $50,000 in five years. Former board member Todd Collins argues the district no longer needs the parcel tax. Collins has finance background and previously halted capital appreciation bonds, saving the district roughly $850 million. Many residents face cash-flow strain despite property wealth.
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