"Good Schools" Do not Increase Property Values

Some people support Prop E because they think “good schools” help keep property values high. The argument boils down to: Vote for Prop E because good schools make us wealthier.

Five minutes of thought will dismember this argument.  

Property values increase when buyers with new money come into the marketplace, bidding up prices. The buyers are diverse but they have this in common: they are all wealthy, and they bring their money to this community. Coronado is increasingly prosperous because wealthy people keep buying property here.  

Material prosperity confers many benefits to our schools: nice buildings, wealthy parents who can afford to be generous with their time and their money, and stable families. Our children are easy to teach, being relatively free of the big problems that plague public schools, such as widespread drug addiction, early pregnancy, and high dropout rates. This positive atmosphere attracts good teachers. Underlying this favorable mix is the material prosperity of our community.

So it’s not the case that  “good schools” will make you wealthier. The causation works the other way. Our wealth is the major reason we have good schools. 

This tax increase, like most others,  will diminish, not increase, your wealth.

If you do vote to increase your and your neighbors’ taxes, first do your homework. Does the CUSB really need this money? Have they fully proved their case? Why the big rush?

Vote NO on Prop E.