BY DAVE PRICE
Daily Post Editor
The Palo Alto school board needs to have a study session to hear former board member Todd Collins’ arguments about how the $941-per-year parcel tax is no longer needed.
It would appear, based on last Tuesday’s meeting, that the school board doesn’t even want to talk about this.
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. The district is doing fine.
It’s offensive that the board would try to collect this tax at a time when many people are pinching pennies. Palo Alto is full of people who are “house rich, cash poor” and would be relieved if their expenses could be reduced by $941 a year.
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.
The district no longer needs the parcel tax to provide a quality education. The district is well funded beyond anyone’s expectations, Collins says.
The board should meet to discuss Collins’ concerns.
Price’s column appears on Mondays in the Daily Post.
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