Letter: School funding requires compromise (Printed Feb. 12, 2010)
Posted by Leader Editor at 2/12/2010 9:41 AM 
Categories: Letters
Tags: Schools Budgets and taxes Letters
Categories: Letters
Tags: Schools Budgets and taxes Letters
To the editor:
The topic of discussion around town seems to be the same across the state: What impact will budget cuts have on our schools?
I translate that further to: What impact will the cuts have on our property values? I would offer some observations.
Most of us live in our current homes because we like the neighborhood we live in, similar homes around us, similar neighbors with similar taste and so forth. Zoning helps establish our neighborhoods. Our homes have a value driven by actual land and house value as well as the neighborhood.
Let’s say that all our homes are worth $350,000. Then our neighborhood changes, we have a factory going in behind us, with lights on all night and smoke coming from the furnaces. Consequentially home values in our neighborhood drop to $250,000.
One of the ways to preserve our home values and have them appreciate is to maintain the current condition of our homes and neighborhoods. We manage or control these variables by maintaining our homes and preserving our neighborhoods. Another key factor is the quality of schools. Let’s say our school is one of the best and people move in because of the schools. That perception is built into home values. If schools change, we lose programs, test scores drop, morale amongst educators weakens. Quality of the overall school system is impacted. Is your home still worth $350,000?
I would say it is worth less to a potential buyer. Many will argue neighborhoods are a key component to home values, and others argue more heavily that schools influence the values. I would say they both have a strong influence. If we simply look at our home values and what goes into them, I think we could better address issues within our control and manage what affects those values.
Should managing mean we cover the whole cost with a tax increase? Does it mean we reduce our services in the schools to meet the cost reductions? Do we meet in the middle, with some cuts and some tax increases?
If we increase taxes to cover this specific shortfall, can we stipulate that if the state funding is restored, this tax increase would expire? Do I like to spend money to repair and maintain my home? No, but it prevents bigger problems and maintains my home’s value. Should the burden solely be with taxes increases or cuts? Is there a compromise?
Mike Gilbert
Scarborough
The topic of discussion around town seems to be the same across the state: What impact will budget cuts have on our schools?
I translate that further to: What impact will the cuts have on our property values? I would offer some observations.
Most of us live in our current homes because we like the neighborhood we live in, similar homes around us, similar neighbors with similar taste and so forth. Zoning helps establish our neighborhoods. Our homes have a value driven by actual land and house value as well as the neighborhood.
Let’s say that all our homes are worth $350,000. Then our neighborhood changes, we have a factory going in behind us, with lights on all night and smoke coming from the furnaces. Consequentially home values in our neighborhood drop to $250,000.
One of the ways to preserve our home values and have them appreciate is to maintain the current condition of our homes and neighborhoods. We manage or control these variables by maintaining our homes and preserving our neighborhoods. Another key factor is the quality of schools. Let’s say our school is one of the best and people move in because of the schools. That perception is built into home values. If schools change, we lose programs, test scores drop, morale amongst educators weakens. Quality of the overall school system is impacted. Is your home still worth $350,000?
I would say it is worth less to a potential buyer. Many will argue neighborhoods are a key component to home values, and others argue more heavily that schools influence the values. I would say they both have a strong influence. If we simply look at our home values and what goes into them, I think we could better address issues within our control and manage what affects those values.
Should managing mean we cover the whole cost with a tax increase? Does it mean we reduce our services in the schools to meet the cost reductions? Do we meet in the middle, with some cuts and some tax increases?
If we increase taxes to cover this specific shortfall, can we stipulate that if the state funding is restored, this tax increase would expire? Do I like to spend money to repair and maintain my home? No, but it prevents bigger problems and maintains my home’s value. Should the burden solely be with taxes increases or cuts? Is there a compromise?
Mike Gilbert
Scarborough
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