How was the percent of property tax allotted to education set for Manhattan Beach?
The formula to allocate property tax dollars for education is based on tax rates and education spending levels that were in place in 1972. Unfortunately, our city was spending a relatively small share of property taxes on our Manhattan Beach schools in the early 70s. Thus, our district is entitled to less property tax revenue than other districts even if the current total assessed value of our respective communities is the same. A rising local property tax base does nothing to help a school district until it becomes basic aid. The only beneficiary is the state, whose state aid contribution correspondingly decreases as the local property taxbase assumes a greater percentage of the district’s revenue limit. Sources: The Basics of Basic Aid by Darren Sepanek (which will appear in the MB Sun – Education Section – Jan. 28, 2010), and the Irvine Unified School District.
