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Published on 04/21/1999 All articles from this issue

MV-LA high school district enjoys unexpected revenues from local real estate boom

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By Linda Taaffe / Town Crier Staff Writer

Revenues are up this year in the Mountain View-Los Altos Union High School District, thanks to the area's hot real estate market.

"Revenues are coming in higher than we projected," said Robyn Phillips, superintendent of business services. Phillips said property tax revenues for the 1998-99 school year increased 10 percent - about 2 percent higher than the district expected. According to the district's second interim report, revenues are $373,432 higher than expected, or $21,973,581.

The larger-than-projected revenues reflect high levels of new construction countywide, turn-over in property ownership and restoration of assessed values rolled back during the 1991-96 recession, Phillips said.

These higher taxes benefit the high school district because it is a basic aid district, which means it operates on a budget set by local property values. Revenue limit districts, in comparison, receive funding on a per student basis.

Phillips said district expenditures over the past academic year were $21,886,858. She said about 80 percent of that is for teacher salaries and other personnel costs. She projected an ending balance of $2,026,100.

Phillips said the real estate boom won't last forever, so the district is looking at other sources of revenue growth for the future. She said the district has begun conversations with the city of Mountain View to discuss ways for local school districts to receive a share of the property tax revenue growth from the city's two redevelopment areas: Mountain View Downtown Revitalization District and Shoreline Regional Park Community District. The school district does not receive property tax revenues from growth within these districts. She said tax-growth revenues go entirely to the Redevelopment Authority.

Phillips said there has been tremendous growth in the Shoreline area over the past few years. The school district lost about $2.3 million this year in potential revenues from these areas, she said.