Southern Californians will be facing 116 city tax increases or extensions, school taxes, and school bonds on their Nov. 5 ballots. Los Angeles County alone will have 32 school bonds, one county sales tax increase, 18 city tax increases, and more. Orange, Riverside, and San Bernardino Counties will also have various tax and bond measures on the ballot. The cost of these bonds and taxes is often listed per $100,000 of assessed property value, but the real impact is on a per $1 million basis, which is more realistic in today’s housing market.
In addition to local measures, there are also statewide bonds on the ballot. Proposition 2 is a $10 billion school construction bond and Proposition 4 is a $10 billion bond for parks and environmental projects. If both pass, it would result in $900 million in new annual spending from the general fund, which could strain the state’s budget as deficits continue to rise.
Proposition 5 is another measure that would reduce the vote threshold for passing local bonds, making it easier to raise taxes for housing and infrastructure projects. Critics warn that this could lead to massive tax hikes and increased debt for taxpayers.
As the economy softens and unemployment rates rise, Californians are facing increasing financial pressure from both local and statewide tax measures. With uncertainties about the state’s real fiscal condition, many are beginning to question the sustainability of such tax increases.
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