| San Mateo County, CA | November 4, 2003 Election |
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Did we pay too much?By Jim HarveyCandidate for Board Member; Montara Water and Sanitary District; 2 Year Term |
This information is provided by the candidate | |
No. The incumbent board members acomplished the urchase of the water district at the lowest possible cost. The eleven million dollars the district paid was very close to our appraised value, and far less than the nineteen million dollar American Water Works Appraisal. We all know that the assessed valuation on the County tax rolls doesn't represent fair market value. What about our property taxes? Measure V passed two years ago with more than 80% of the votes. It specifies that all assessed parcels will help pay for the bonds used to purcahse and repair the system. Well owners, although not on the system, benefit by increased fire protection and by overall increased property values. Because of the timing of the purchase, we saved considerably on the purchase price and interest rates. Had we waited for water rates to double, the purchase price would have more than doubled. If we had not been able to finance at the historically low interest rates, our tax payments would have been much more than they are now. |
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Created from information supplied by the candidate: October 15, 2003 17:39
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