Tuesday, March 1, 2011

Measure E - Do the Math, Part One

Measure E supporters have a history of claiming the parcel tax will protect property values. Let's look closer at the numbers and 'Do the Math'.

The 'Protect Property Values' claims.

The second line of the Pleasanton Unified School District (PUSD) resolution says "Whereas, property values within the District are related to the quality of education available in the District's public schools." PUSD also claims in the first section of their four-page color glossy mailer, excellent schools are "creating a demand for homes and protecting our property values".  In an almost verbatim claim in the first paragraph on their website, Support Pleasanton Schools (SPS) says good schools are "creating demand for our homes and protecting property values."

Pleasanton has $16 Billion in residential property market value.

The Alameda County Assessor reports Pleasanton has a local assessment roll of $17,326,290,380.
That's $17 BILLION. If you remove the business property component (25% average in Alameda County), and account for residential market value vs assessed value (add 25%), you would reach a residential property market value of $16.24 Billion.

What will a $2 million parcel tax provide?

If we assume the entire $2 million is spent on NEW teachers, it could fund twenty-five teachers at an average $80,000 cost.
That's 1.7 teachers per school by placing those 25 teachers in the 15 schools.
Or one teacher per 600 students throughout the district.
Therefore, each student in Pleasanton will receive approximately 2 more hours of teacher attention per year.
Or about 36 seconds a day.

If the $2 million is used to fund employee step salary increases and higher longevity bonuses, then our children will have no benefit from this parcel tax.

Can anyone honestly say that $2 million will protect $16 billion in property value?