CLEAN AND SAFE NEIGHBORHOOD BONDS: This proposal incurs a bonded debt of $195,000,000 for the construction, reconstruction, renovation, demolition, environmental remediation, and/or improvement of park, open space, and recreation facilities. It authorizes landlords to pass-through 50% of resulting property tax increase to residential tenants. NO.
A bond issue is a tax on future taxpayers to pay for what present day voters want, and should be used more cautiously than done in this proposal.
Who benefits from Proposition B:
This project is city-wide so all residents benefit from the beautification provided by this project.
Why is Proposition B not the best solution:
1. This is an ambitious project, and residents who are already struggling financially will find increases in property taxes (either direct taxes or those passed through by landlords) difficult.
2. Our concern regarding the assumption of excessive debt mentioned under our discussion of Proposition C above, applies equally here.
What do we suggest instead:
Libertarians prefer manageable, private, imaginative projects to grandiose taxpayer-funded ones. The more local the projects, the better. We would prefer neighborhood associations that include individuals and businesses deciding what local parks, playgrounds, and other amenities they would like to have, and bearing the shared costs of those amenities.