The Board of Education has filed a lawsuit against local government bond issuance to build the school. The next people can vote for it.
School Life Munibond:::Part 1
The ease or difficulty of passing a referendum, including tax payments, often depends on the demographics of the district. According to Wikipedia, our county (and therefore school district) –
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There were 67,864 households, of which 42.1% were children under the age of 18 living together.
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In 2022, the median household income for Union County was $95,533.
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The median age was 36.2 years old.
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9.6% were over 65 years old
So, since 42.1% of the district have some money with children, this was like a form of slam dunks for the district to pass. When people say “move to a good school district,” they should not look at the rankings of schools, they should see how easy it is for a school to raise funds to support their needs.
Compare it to nearby Lancaster County (it actually falls to South Carolina)
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35,410 households, 33.2% lived with children under the age of 18.
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The median income for households in the county was $38,959.
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The median age was 39.7 years old.
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9.4% of households are over 65 years old and live alone. The proportion of the population in Lancaster County, age 65 and above, has increased from 15.5% in 2010 to 21.8% in 2022
I’m never sure if such sociodemography will engrave new schools and tax hikes like the first counties, but I doubt it.
Understanding a referendum and truly understanding the value behind it is two separate things.
Next year, we will start paying additional fees of around $40 to $80 per year in property taxes. In return, the area will get a whole new school with modern, clean facilities and begin planning for another facility. But it’s unlikely that my kids will even attend a new school.
There are other ways to use the values. The costs we pay will keep the size of the student’s class reasonably size for the school they attend. It ensures they are not rezoned and they have to change schools along the way from K-12 to high school. It gives school boards the confidence that other future funding efforts will pass through regardless of teachers, further infrastructure or consumables.
In comparison, I withdraw tuition fees from 2024-2025 at a nearby private Charlotte School. Annual tuition fee range $23,750~$32,900depending on the grade level from kindergarten.
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Kindergarten and kindergarten in transition: $23,750
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Grades 1-5: $23,750 – $28,950
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Grade 6 and above: $32,900
That’s just for the child. Sending three children there would be 23,750 x 3 per year! Compare it to the original $40-80 increase I pay. Certainly, the types of family in schools can vary and curricula are chosen differently, but both schools still need to meet state standards and guidelines, resulting in roughly the same results.
Next week, Wall Street will be described in the production and trade of Muni bonds created and voted on by the district.
Are you interested in joining the Trader Papa Podcast in 2025? Shoot the email! I want you to sit for discussion
thought? question? comment?
Reach out! Maybe I’ll post the full topic or as a Q&A
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