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California State
School Bond
WHAT DOES IT MEAN TO KERN COUNTY?
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Jobs and Tax Estimates 2015NAHB National Estimates 2.97 jobs and
$110,957 in taxes from building an average new single family
home.
1.13 jobs and $42,383 in taxes for building an average
multi-family rental unit.
0.89 jobs and $29,779 in taxes from $100,000 spent on
residential remodeling.
Type Jobs Taxes
Single Family Home 5,195 $194,063,793
Multi-Family 359 $13,477,794
Remodel 206 $6,900,390Total 5,760 $214,441,977
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Developer FeesLevel 1 - basic mitigation fee. With the adoption
of Senate Bill 50and Proposition 1A in 1998, school districts which
meet certainrequirements are given an option of adopting
alternative school fees, alsoknown as Level 2 and Level 3 fees.
Level 2 - deemed to represent 50% of a school districtsschool
facility costs for purposes of obtaining state construction
fundingfrom the school facility program.
Level 3 - intended to represent one hundred percent (100%) ofa
school districts school facility construction costs per new home
served,and is applicable when the State Allocation Board officially
declares that it isno longer making apportionments of state school
facility fundingto school districts.
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Cost Added to a New HomeAverage Level 2 fees are $5.50/sq.
ft.
For a 2,000 sq. ft. home fees are about $11,000
Without the State Bond fees will DOUBLE
- $22,000
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School Impact FeesHomebuilders contribute to the financing of
new school facilities inpartnership with the state and local school
districts.
If the state were to back out as a funding partner on school
facilities,new homebuyers and local private property owners will
face massive
new tax increases to make up the states share driving up the
cost ofnew homes and the tax burden paid by local property
owners.
We must secure voter approval of a new statewide school
bond.
