This just sounds like more Mello Roos.... Just when you think you're done paying, they hit you for more.
http://iusd.org/schoolimprovements.html
http://iusd.org/schoolimprovements.html
More Mello Roos?
- Thread starter WTTCHMN
- Start date
NEW -> Contingent Buyer Assistance Program
I have no visibility into pension but I did look a while ago up salaries of some of the excellent teachers at my kids school. And, they are not excessive by any means. I would presume that pension would be a smaller portion of the base salary, definitely not more than the salary.
I have lived in other counties and have experienced what their top schools offer to kids in terms of quality of education. IUSD definitely kicks butt. Better quality product does not come cheap.
I am no fan of expensive Irvine living but I am choosing to pay for better quality, just like I do for Apple products. When I will no longer need IUSD, likely I will rush out of Irvine and get large home with backyard, no HOA, no MR.
So, burden the new home owners with more MR = Depress the new home base prices = depress the entire Irvine home prices = existing home owners in older communities see their equity go the other way = pay for the school improvements in just more convoluted way?
There is no free lunch.
Ok. Let's see how this plays out.
BP and EW are building 5000 homes and they are going to add bond for school improvements. Prospective home buyers of course will shy away from even higher MR. Now the builders are in pickle as the demand dropped. What will they do? Drop prices. Along comes another buyer, OMG, Brand new home much cheaper than WB home. Even with higher MR it makes sense to buy. Let's do it. Comes next buyer who is really into resale home. Makes lower offer to WB seller with justification that new homes are selling much cheaper. WB seller gets enough low offers, he finally accepts one of them. New record is set. And so on...
It's totally ok to say I don't like new taxes. It's not logical to say collect it from that new guy just moved in to make my neck of woods better. The new guys will stop coming to the town and everyone will suffer.
I doubt that IUSD bonds alone would cause the collapse of the entire Irvine RE market. It certainly could shift purchasing patterns from new construction to resale.
Theoretically if IUSD placed district bonds on new homes, it SHOULD be done PRIOR to selling the first homes. Thus builders can price their homes according to market conditions.
If an economic collapse can't keep Irvine prices down, a school bond not passing will have zero effect.
Cornflakes
Active member
Saw this letter a while ago as IUSD parent and I think it is justified. As homeowner in older communities (DF, WB etc.) one is already enjoying very low HOA, no MR, and lower tax base thanks to prop 13. Now, if one wants schools to be modernized, you can't expect anyone else to pay but your own community for it. Even if your kids are done with IUSD, you'd see better appreciation of your home as a result of modernized school.
Do I love paying taxes? No.
Is it fair to pass the cost to beneficiary homeowners? Yes.
Do I love paying taxes? No.
Is it fair to pass the cost to beneficiary homeowners? Yes.
irvinehomeowner
Well-known member
Nope. I will vote against it just like any other additional "tax".
Cornflakes
Active member
Do you have some data points to back that?test said:
I have no visibility into pension but I did look a while ago up salaries of some of the excellent teachers at my kids school. And, they are not excessive by any means. I would presume that pension would be a smaller portion of the base salary, definitely not more than the salary.
I have lived in other counties and have experienced what their top schools offer to kids in terms of quality of education. IUSD definitely kicks butt. Better quality product does not come cheap.
I am no fan of expensive Irvine living but I am choosing to pay for better quality, just like I do for Apple products. When I will no longer need IUSD, likely I will rush out of Irvine and get large home with backyard, no HOA, no MR.
Cornflakes
Active member
iacrenter said:
So, burden the new home owners with more MR = Depress the new home base prices = depress the entire Irvine home prices = existing home owners in older communities see their equity go the other way = pay for the school improvements in just more convoluted way?
There is no free lunch.
irvinehomeowner
Well-known member
Or, private funding can help. Or asking parents to chip in.
There are a multitude of ways to help individual schools more directly rather than involve the red tape of taxing/bonds where only a portion of each dollar will go to the school.
There are a multitude of ways to help individual schools more directly rather than involve the red tape of taxing/bonds where only a portion of each dollar will go to the school.
Ready2Downsize
Well-known member
Irvine has had multiple bond issues for schools in the past (which failed when 2/3 vote was required to pass) and Irvine schools seem to have done ok and it hasn't hurt home prices either.
I think this only requires 50% plus one vote so much more likely to pass.
Personally I would rather spend on kid's educations (and my kids are out of school) than so many other things that the government chooses to spend our money on. Kids are ALL of OUR future. They will be responsible to take care of us when we r old and no longer work. It will be the kids of today who need high paying jobs to buy our houses and to pay taxes to support their kid's educations and the old folks care.
It's just sad to see what we pay get watered down by the time it reaches the kids themselves........ and no matter how much we spend it's never enough even though it's always....... we just need this little bit.
I think this only requires 50% plus one vote so much more likely to pass.
Personally I would rather spend on kid's educations (and my kids are out of school) than so many other things that the government chooses to spend our money on. Kids are ALL of OUR future. They will be responsible to take care of us when we r old and no longer work. It will be the kids of today who need high paying jobs to buy our houses and to pay taxes to support their kid's educations and the old folks care.
It's just sad to see what we pay get watered down by the time it reaches the kids themselves........ and no matter how much we spend it's never enough even though it's always....... we just need this little bit.
Might our schools be the lowest funded schools because we already pay so much for them? Maybe if we stop aiding them, they will get more funding? It looks like they are funding schools by income levels. The lower income levels, the more funding that the schools get. The expectation is that higher income areas pay for their own schools.
BTW, the funding situation seems to be impacted by illegal immigration. The schools receiving the most money have non english speaking kids with low income.
My home is barely within my means. More taxes means more sacrifices that I have to make. It's going to affect my lifestyle and I'm pretty frugal as it is for the most part.
BTW, the funding situation seems to be impacted by illegal immigration. The schools receiving the most money have non english speaking kids with low income.
My home is barely within my means. More taxes means more sacrifices that I have to make. It's going to affect my lifestyle and I'm pretty frugal as it is for the most part.
12/14/15 IUSD board minutes
- G.O. Bond Update, per the board minutes there was a phone survey that was conducted.
https://iusd.org/district_services/fiscal_services/documents/12-14-15FCMeetingMinutes.pdf
- G.O. Bond Update, per the board minutes there was a phone survey that was conducted.
https://iusd.org/district_services/fiscal_services/documents/12-14-15FCMeetingMinutes.pdf
Cornflakes
Active member
iacrenter said:
Ok. Let's see how this plays out.
BP and EW are building 5000 homes and they are going to add bond for school improvements. Prospective home buyers of course will shy away from even higher MR. Now the builders are in pickle as the demand dropped. What will they do? Drop prices. Along comes another buyer, OMG, Brand new home much cheaper than WB home. Even with higher MR it makes sense to buy. Let's do it. Comes next buyer who is really into resale home. Makes lower offer to WB seller with justification that new homes are selling much cheaper. WB seller gets enough low offers, he finally accepts one of them. New record is set. And so on...
It's totally ok to say I don't like new taxes. It's not logical to say collect it from that new guy just moved in to make my neck of woods better. The new guys will stop coming to the town and everyone will suffer.
iacrenter
Well-known member
Cornflakes said:
I doubt that IUSD bonds alone would cause the collapse of the entire Irvine RE market. It certainly could shift purchasing patterns from new construction to resale.
Theoretically if IUSD placed district bonds on new homes, it SHOULD be done PRIOR to selling the first homes. Thus builders can price their homes according to market conditions.
irvinehomeowner
Well-known member
Not gonna happen.Cornflakes said:
If an economic collapse can't keep Irvine prices down, a school bond not passing will have zero effect.