Despite supporters' assertions that new legislation linked to Prop. 39 caps the amount property taxes can be raised to fund a school bond, opponents argue that the legislation would actually eliminate the caps.
Prop. 39, a measure that would lower the required vote to pass school bond measures from two thirds to 55%, is opposed by the Howard Jarvis Taxpayers Assn., which claims that because bonds under the initiative would be general obligation bonds, the guaranteed repayment would allow property tax increases if property values did not keep up with projections. Supporters of the measure disagreed, and said that the purpose of the legislation was specifically so that districts would adhere to the caps.
Thanks to California 2000 Project
FULL STORY: Debate Flares Over Property Tax Caps
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