San Diego city schools officials have added a new rationale for voters to support a new tax hike on the ballot, Proposition Z.
It’s a construction bond that would add to property tax bills $60 for every $100,000 of assessed value of property you own in the district. Critics often point out that voters passed Proposition S in 2008, which ostensibly freed up billions for construction projects. Only a portion of that has been spent.
City schools officials say they are tapped out paying on old debt. If Proposition Z does not pass, they warn they’ll have to do controversial capital appreciation bonds, the politically toxic borrowings that became national news after our explanation of a troubling deal in Poway.