Schools
Parcel Tax Assessments to Rise in PV
Residents of Palos Verdes will see the parcel tax assessment increase by a little more than $8 in the next fiscal year.
The parcel tax assessment from Measure M in November 2011 will increase from $374 to $382.23 for homeowners in the Palos Verdes Peninsula Unified School District, the Board of Education decided earlier this month.
Measure M, which narrowly passed in 2011, is an annual tax with no sunset date that is estimated to bring the school district about $7 million each year. It replaced two parcel taxes that were set to expire in 2013.
The board voted 4-0—Larry Vanden Bos was absent from the meeting—for the increase, which will bring in an additional $160,000 annually, the Palos Verdes Peninsula News reported last week. The increase in the assessment to adjust for inflation is allowed under the ballot language voters approved.
The News reported that the school board did not decide where the additional funding would be allocated.
The increased assessment will go into effect for the 2013-2014 fiscal year.
Residents of Palos Verdes who are over age 65 and own their home can apply for an exemption from the parcel tax.
- Full story: Residents Will See an Increase in Parcel Tax Rate [Palos Verdes Peninsula News]
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