L.A. Unified is hoping voters will pass a $298 parcel tax in November to help raise about $255 million annually for schools from property owners within district boundaries and improve future budget forecasts.
"Sacramento cannot take this money away," said Superintendent John Deasy in his presentation to the board. "They cannot cut this fund; this fund goes directly to our schools."
Here's how the parcel tax math would work out:
Property owners within LAUSD boundaries would pay $298 annually for five years starting in 2013-14.
The $255 million in revenue is drawn from the district estimate of about 928,000 parcels within its boundaries, with about 36,000 owned by seniors, said LAUSD spokesman Thomas Waldman. Low-income seniors would be exempt from the tax, but the definition of whom this includes is still being formulated, Waldman said.
About $22.5 million of the revenue would go to charters, Waldman said. The district is also assuming a 5 percent delinquency rate, Waldman said.
To pass, the parcel tax requires approval by two-thirds of voters within LAUSD boundaries. The district has tried to do this before. Measure E in 2010 would have charged a $100 per parcel fee each year for four years that would have raised more than $90 million for schools annually. That measure was defeated.