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High Property Tax Rate == Idiots Turning Out Idiots
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Posted by Reality (more from Reality) on Sat, 21 Jul 2012 07:56:01 Share Post by Email
In Reply to: Re: Yeah real estate taxes are so unfair..., Justin VanAbrahams [Profile/Gallery] , Wed, 18 Jul 2012 22:42:48
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List the towns and school district in your own state, you will find that property tax rate is inversely correlated to quality of public education. Here in MA, towns with top performing school districts like Brookline, Newton, Wellesley, Weston all have property tax rate barely over 1% range. Worcester, a city with terrible schools, had property tax rate close to 3%! only dropped very recently to 1.7%. If you think that's just big city vs. small town difference, among the biggest cities in MA, Cambridge has the best schools, and its property tax rate is 0.8%! used to be around 0.5% a few years ago. Notice, the reputation for schools usually have a few years of delay between actual performance and reputation, so the tax rates in the past decades were more important than current tax rate, as we don't know yet how the current students will do in the future.

Spending on school districts vs. teacher pay are two separate issues altogether. It is quite common to have district super-intendents getting paid $300k-500k nowadays, with very fat pension to boot after not many years in the position. Spending on fashionable gadgets and school buildings far outweigh teacher salaries. Many relatively well-off towns have been building new school buildings since mid-2000's, usually to the tune of $100 million range, mostly financed by public debt. At about 6% range for the best credit towns, that's something like $300 million over the life of the loan (assuming it gets paid off, instead of being refinanced again and again). That's easily more than the life-term earnings for 100 teachers for the same decades of the loan term! That's just the blood sucking by banks doing the financing, not counting the corruption and graft in the construction contracts themselves. The demographics in those towns are not expanding (zoning rules and aging population), so there is no need for new school building at all.

Public schools and teachers are just excuses for piling on more public debt and taxes on hapless taxpayers. That's usually how market power and monopolies work. The teachers themselves have very little market power as the schools turn out millions of them every year, so their entry pay has to stay at near-minimum wage regardless how much tax money is collected for public schools. It's the administrators, contracts, construction and most of all financing where the choke point in market power flow is, so that's where the bulk of the profit goes.





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