The Measure G tax bond payment you will start paying after November will cost you $144 in the first year if your home is currently assessed at $240,000.
That levy to pay back $159 million for Manteca Unified school modernization efforts is a fraction of what Delicato Vineyards will pay.
The winery just north of Manteca in Highway 99 is the top property taxpaying entity in the school district. Based on the winery’s $91,670,933 assessed valuation the family owned business that is among the top 10 wineries in the nation will pay $55,002 in the initial year of the 30-year bond payback period. It accounts for 0.90 percent of all property value in the MUSD that includes Manteca, Lathrop, rural Manteca, French Camp, and Weston Ranch on Stockton as well as land in around Stockton Metro Airport and along Arch Road east of Highway 99.
Next on the list at No. 2 is Manteca Lifestyle Center LCC, the holding company for the Promenade Shops at Orchard Valley complex anchored by Bass Pro Shops. The shopping center at Union Road at the 120 Bypass is assessed at $87,836,062. The firm will lay $52,700 for Measure G the first year.
Third on the list is a business located at Stockton Metro Airport. Simpson Manufacturing Company’s String-Tie factory, training center and regional office has an assessed value of $85,936,110. Their Measure M cost will be $51,561 for the current fiscal year.
Altogether the 20 largest taxpayers — primarily industrial although the list includes the undeveloped portion of Del Webb owned by Pulte Homes and Paseo Apartments along the 120 Bypass in Manteca — accounts for $885,516,472 in property value or 8.67 percent of the MUSD tax rolls.
Single family homes represent 64.8 percent of the district’s property valuation followed by industrial at 16.8 percent and commercial at 8 percent. From there vacant property is 3.8 percent of the overall tax rolls, agricultural 3.3 percent, other residential 3.1 percent, and other 0.8 percent.
The City of Manteca accounts for 51.8 percent of all property value within the district followed by the City of Lathrop at 18.8 percent and the City of Stockton at 14.8 percent. The unincorporated areas of San Joaquin County account for the remaining 14.5 percent.
Total property valuation within the MUSD is at $11,035,706,930. That is $8.5 billion more than in 1991-92.
You can determine exactly what your tax bill increase will be to cover Measure G bond repayments by looking up your property’s assessed valuation as calculated by the San Joaquin County assessor and then divide that by $100,000 and multiple by $60.
The $60 per $100,000 assessment will not increase during the 30-year bond repayment although your assessed valuation will more than likely go up which will mean a jump in your bond payment levy.
The district earlier this month sold the first $19 million in Measure G bonds. Ultimately the district will be selling $54 million or a third of the approved bonds to pay for modernizations for the initial five schools. Those campuses are Sequoia, Lathrop, Golden Wets, Lincoln, and Shasta elementary schools.