Just a few weeks ago our country was on the edge of its seat as the election results revealed themselves. While the presidential election was in the spotlight, there were a few local election results that will have a big impact on residents.
The Propositions
There were two Scottsdale schools funding propositions on the November 8, 2016 ballot. Proposition 123 was a referendum that will generate about $3.5 billion for Arizona schools over 10 years. Most of this funding will come from increased payout on State Land Trust, which serves as a long-term savings account for Arizona education, as well as some from the general fund.
Proposition 301 was an initiative that was originally passed in 2001 to create a funding stream for public education through sales tax. The terms of this proposition would expire in 2021 without renewal or update. The proposition on the ballot this year will primarily increase accountability in public educational institutions and increase teacher salaries including rewarding high performing teachers.
Both propositions were passed by voters with over 55% of the votes.
Scottsdale Schools and Students
The propositions together will generate almost $249 million. This will go to repairing outdated infrastructures, buses, books, curriculum and technology resources, furniture including chairs and desks, athletic programs, libraries and playground equipment. According to the Scottsdale Independent, district officials in Scottsdale schools are estimating that the bond funds be dispersed as follows:
- Eight elementary schools need to be re-built; 56.6 percent
- 22 schools need life cycle improvements; 21.5 percent
- 9 schools need learning environment re-models; 9.2 percent
- Transportation updates in all five learning communities; 2.6 percent
- Security upgrades at every school; 3.3 percent
- Physical education and athletics needs at all five high schools; 6.8 percent
Scottsdale Residents
The impact of these propositions on residents is pretty minimal. Each proposition will cost home owners between 1.7% and 2.8% of the value of their homes, annually. To many, this is a small price to pay to increase support for local children attending our areas great public schools.
A solid public education system will only help the value of your property. Interested in a home of your own near a great school for your kids? Contact the Matheson Team and start browsing homes for sale in Scottsdale, AZ.
Don Matheson
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
602-694-3200 or 888-656-4830
[email protected]
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