We are often told by proponents (often via slick, taxpayer-financed campaigns) that “Bond X will not result in a tax increase.”
This may be true as far as it goes, but any bond that is not renewed will result in lower property taxes. You can see how your property tax burden stacks up county-by-county here.
Also, few mechanisms give voters as direct a say on what is going on in higher education statewide or with regard to “tiny homes” for the homeless or “traffic calming” measures in Bernalillo County than does a vote against a bond.
The RGF recently pointed out the need for higher education reforms in New Mexico. $133 million is on the ballot for higher education in Bond D. $6.137 million in bonds are on the ballot in Bond C that would include air conditioning on school buses.
Finally, it is worth noting that New Mexico’s bond rating has been reduced twice in the last two years. This happens for a variety of reasons, but high debt burdens relative to the ability to pay for them is always the underlying reason for debt downgrades.
New Mexicans rarely turn down bonds, but we wish more New Mexicans took the philosophy contained in the sign below to heart:
2 Replies to “Common sense on bonds”
Does such a sign actually exist and, if so, where can I get one to put in our front yard?
I stopped voting YES on bond issues 25 years ago. Bonds are now paying for things that used to be in the regular budget. Fire, Police, Education, Community Centers and roads. We now overspend on Welfare and Medicaid which puts me, as a property owner, on the hook for things like flood control district, trains, hospitals and a myriad of other public and private entities that should be self funded; I.E: By making a profit and paying for themselves. I am sick of it.