Over $7.9 million will be taken out of San Benito County schools' local property taxes to fund the state's debts this fiscal year. San Benito County K-12 school districts will see a minimum of $5,495,514 still owed to them when the school year ends (June 2014). In the most recent available data (2011-12), $7,916,093 was taken out of San Benito school-allocated property tax, $6,676,132 for the VLF "Swap" and $1,239,961 to pay for the 2004 Economic Recovery Bonds.
Can San Benito schoolchildren afford to finance the state's debts? According to the new Local Control Funding Formula, San Benito County needs 60.5% more funding to adequately educate its student population this year than it's getting this school year -- in the bottom quartile for the state.
Sources: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.) California Department of Education, First Principal Apportionment.
In San Benito County, a total of $8,008,344 was taken out of school-allocated property taxes to pay State obligations in 2010-2011. $6,862,006 was redirected to satisfy the State's VLF backfill obligation. $1,146,338 was redirected to pay for the State's 2004 Economic Recovery Bonds.
Source: State Controller's Office, Local Government Reporting Section. (City and county detail shown in the reports, totals upon request from the SCO.)