Contra Costa Taxpayers Association

On Wednesday. May 21st, the West Contra Costa School District Bond Oversight Committee was upset over the debt waiver application.

One committee member said he was "mad as hell".
According to the Contra Costa Times, representatives from KNN Public Finance and other financial advisers said the district plans to ask the state Board of Education to increase its bonding capacity from the legal maximum of 2.5 percent of assessed property values in the district to 5 percent through 2025. Without the increase, the district would not immediately be able to draw money from the new $270 million Measure H on the June ballot, if passed, or from existing construction bond measures as quickly as the district wants.

The bond oversight committee did not accept the debt waiver application. It created a subcommittee to investigate the debt waiver application.

To read more on debt waiver application:

http://www.contracostatimes.com/richmond/ci_25817708/west-contra-costa-districts-bond-oversight-committee-mad?source=email

CBS KPIX TV News on May 21st Debt Waiver Application

http://sanfrancisco.cbslocal.com/2014/05/22/questions-raised-over-spending-in-east-bay-school-district-as-voters-weigh-bond-measure-education-west-contra-costa-county-unified-wccusd-richmond-pinole-hercules/

Howard Jarvis Taxpayers Association Says Rodeo Hercules Fire District Violates Prop 218

 According to Howard Jarvis Taxpayers Association, Rodeo Hercules Fire Protection District violates Prop 218.

Howard Jarvis Taxpayers Association authored the 1996 Prop 218(Right to Vote on Taxes Act).

Prop 218 requires a ballot to be mailed for all assessments and property related fees with the exemption of water, sewer, and garbage rate increases. Street lighting assessments, storm water and urban runoff management assessments, and open space assessment districts are examples where a ballot is required to be mailed to impacted homeowners.

 Ballots are weighted by the size of the property. If approved, the assessment appears on your property tax bill. For water, sewer, and garbage rate increases, a notice is sent out to impacted property owners 30 days before a hearing to approve the increase. Residents protest this increase by showing up or a protest in writing.

 The need for Prop 218 in 1996 grew as municipalities used benefit assessments for general fund purposes. Prior to Prop 218, cities were attempting to pass assessments for police services. Police and fire services are a general benefit that should be paid for via taxes on all residents, not just assessments against homeowners.

Prop 218 gives taxpayer the right to use the initiative process to reduce or repeal any tax, assessment, fee, or charge. By collecting the signatures of 5% of the number of people in the local district who voted in the last election for governor, one can put any locally imposed levy to a vote.

 In a letter, Howard Jarvis Taxpayers Association says Rodeo Hercules Fire Protection District violates Prop 218. This came on the eve of the Wednesday, May 14^th Rodeo Hercules public hearing.

 Contra Costa Times on Benefit Assessment and CoCoTax:

http://www.contracostatimes.com/contra-costa-times/ci_25773551/balloting-ends-rodeo-hercules-fire-district-taxpayer-group

 To read Engineer’s Report that established Prop 218 Benefit Assessment: http://rhfd.org/download_files/RHFD%20ER%2003%2005%202014%20.pdf

 

 As a result of CocoTax’s involvement, the Howard Jarvis Taxpayers Association recently stepped in to question the financing of this massive Delta Tunnels project.

 Businessweek Article on Howard Jarvis Letter that Questions the Financing of Delta Tunnels:
http://www.businessweek.com/articles/2014-04-18/californias-governor-wants-water-tunnels-dot-antitax-group-want-to-know-who-pays#r=rss

The Ventura County Taxpayers Association turned in thousands of petitions to qualify for a a a November 2014 pension reform initiative.

According to a independent analysis by the Reason Foundation, Ventura County will save $460 million and reduce long term liabilies by $1.8 billion.

Ventura County has over 900,000 residents while Contra Costa County has 1.09 million residents.

 

 

CoCoTax has released a video/write up by former Vallejo Councilmember Stephanie Gomes on the March 20th event by the Contra Costa Taxpayers Association by San Jose Mayor Chuck Reed on pension reform. The pension reform initiative has been postponed for 2014. However, it will be pushed for 2016.

On a special note, the Ventura County Taxpayers Association is circulating a petition for pension reform in Ventura County.

Mayor Chuck Reed Video at March 20th Contra Costa Taxpayers Association Luncheon:
http://bit.ly/1dRX2I0

Major Points on Chuck Reed's Pension Reform Initiative:
http://halfwaytoconcord.com/pension-reform-in-california-chuck-reed/

Postponement of a California ballot measure that could help contain the rising cost of public employee pensions is a “credit negative” for municipalities, Moody’s Investors Service said.

To read the article, go to http://bloom.bg/QdfOzf

Since it has been 35 years, a lot of people are unaware of the reason behind it. Property tax rates were rising so quickly that people were actually losing their homes. Now all property owners in California can take comfort in the fact that their property tax increases are limited. Think what would be happening now with the public employee issue if all government had to do was raise the taxes to cover any expenses.

This will take effect starting July 1, 2014.  Yes, that number is still way too high and even the actuary's methodology came up with 7.09% (still too high).  This impact of dropping the rate is that the pension cost increases for both the employer and employee because it assumes the money that is being invested is earning less to help pay the cost of pensions.

CalPERS' corruption, insider dealing and politicized investments have overwhelmed taxpayers with debt.  This City Journal article thoroughly explores the issues.