Letter: Why should San Jose taxpayers pay twice as much by using borrowed money?

Taxpayers shouldn’t borrowmoney, pay twice as much

Mayor Sam Liccardo has proposed new bond issues to pay for San Jose’s police, road and park repairs, and other city needs. He wants homeowners to pay for these bond issues with huge new annual parcel taxes.

The problem is that bonds are borrowed money, and so a $950-million bond issue will cost homeowners and renters over $2 billion in parcel taxes because of the interest costs.

San Jose can save taxpayers over $1 billion by funding city needs through increased sales taxes.

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