Schools
Higher Property Taxes May Be Coming for West Contra Costa School District Residents
Lower property assessments could fuel an increase in tax rates for school bonds
Residents and businesses in the West Contra Costa Unified School District may soon be paying more on their property tax bills, according to a story in the Contra Costa Times.
The potential increase is due to the need to raise the tax rate on school bonds to help pay the debt owed on those bonds, the Times reported.
Contra Costa County Assessor Gus Kramer reduced property values in Richmond by more than 14 percent last fiscal year, mostly due to the Chevron refinery fire. That offset a 4 percent hike in the rest of the district.
A financial consultant told the school board last week that Kramer may need to raise the tax rate on school bonds to make up that difference, the Times reported.
The hike could raise the rate from $215 per $100,000 to $285 per $100,000, the consultant said.
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