Last week, the Arcadia Unified School District voted unanimously to place a measure on the November ballot that would enable them to issue $358 million in bonds for facilities upgrades throughout the District. The bonds would be financed by applying a property tax of about $60 per $100,000 of assessed valuation over the next 30 years. In other words, a home valued at $1 million would pay $600 per year in additional property taxes. While this is a significant increase from the current school bonds (which are set to expire shortly), it remains well below nearby cities like San Marino and South Pasadena, according to what I’ve heard from School District officials. To be approved, 55% of voters would need to support the measure.
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