Do Fountain Valley residents feel that their property taxes are too low? The Fountain Valley School District Board Members appear to think so as they are considering putting a bond measure on the November ballot that “could be used to make capital improvements to school buildings or be placed in a technology fund, which would allow the money to gain another $1 million each year in interest until 2039,” according to the Fountain Valley Patch.
Wow. Do the voters realize that school bond measures are funded by increases to their property taxes – and the bond measures include massive interest that has to be paid back? I had to laugh at the description of the rainbow in the sky technology fund’s interest – would the voters really tax themselves further so the Fountain Valley School Board can put their tax money in a bank account and accrue interest? That is insane! Continue reading