What the heck is a “Bond Measure Passthrough,” why doesn’t this come out of the general budget, and why do we get such a jargon-filled form?pic.twitter.com/l3bALqlqHQ
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I'm trying to parse this, but it still doesn't make sense to me. I don't understand why the city wants to bother me with this useless information. In other countries, cities just raise money if they need it and the interest cost (?) goes on the general budget.
In most of the US it works this way. But California has a special law, Prop 13, that guarantees your property tax will never go up when you buy property. (Not the rate won't go up; the actual amount won't go up because your property's valhe will not be reassessed)
So if voters vote in some expensive new program (new schools, parks, etc), they must also vote for a special dedicated parcel tax to fund it, because they have no mechanism to get the funds through the normal means into general fund.
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