Measure D 06/02/26

In the printed County Voter Information Guide, the Impartial Analysis for Measure D incorrectly states in the title that the proposed measure is a special parcel tax. This is inaccurate. Rather, Measure D is a proposed bond measure that requires 55% approval by voters in the district. The Marin County Elections Department apologizes for any confusion that this might have caused voters of the District. If you have any questions or concerns, please call the Marin County Elections Department during regular business hours or email us anytime.

Impartial analysis by County Counsel of Measure D

Larkspur-Corte Madera School District Bond Measure

Measure D

This Measure was placed on the ballot by the Board of Trustees of the Larkspur-Corte Madera School District.

Pursuant to Article XIIIA (1)(b)(3) of the California Constitution, if this measure is approved by 55% of the votes cast, the Larkspur-Corte Madera School District will be authorized to incur bonded indebtedness in multiple series of up to a total of forty-four million dollars ($44,000,000).

Money raised by bond sales may only be used for the purposes and projects stated in the bond Project List set forth in Measure D. These purposes and projects include upgrading sports facilities, repairing building systems, updating classroom technology, implementing sustainability and resilience projects, and improving safety systems. As required by law, Measure D prohibits using bond proceeds for teacher and administrator salaries or other operating expenses.

The District estimates the average projected tax rate necessary to fund the bonds will be $24 per $100,000 of assessed value of property while the bonds are outstanding. This estimate is a projection, and could go up or down, depending on a number of factors including the timing and amount of bond sales, as well as changes in assessed property values in the District. The District estimates the average annual debt service (including the principal and interest) will be approximately $3,400,000.

The interest rates on bonds must not exceed the limit of 12% and the bonds must mature within 40 years, as set by state law. The actual interest rates at which the bonds are sold will depend on the bond market at the time of each sale.

The Measure requires annual independent financial audits and spending review by an independent citizens’ oversight committee.

s/BRIAN E. WASHINGTON
County Counsel

Tax rate statement of Measure D

LARKSPUR-CORTE MADERA SCHOOL DISTRICT GENERAL OBLIGATION BONDS 

MEASURE D

An election will be held in Larkspur-Corte Madera School District (the “District”) on June 2, 2026 for the purpose of submitting to the electors of the District the question of incurring bonded indebtedness of the District in the principal amount of $44,000,000. If such bonds are authorized and sold, the principal thereof and interest thereon will be payable from the proceeds of taxes levied on the taxable property in the District. The following information regarding tax rates is given in compliance with Section 9401 of the California Elections Code. This information is based upon the best estimates and projections presently available from official sources, upon experience within the District and other demonstrable factors.

Based upon the foregoing and projections of the assessed valuations of taxable property in the District, and assuming the entire debt service on the bonds will be paid through property taxation:

1. The best estimate of the average annual tax rate that would be required to be levied to fund the bond issue over the entire duration of the bond debt service, based on assessed valuations available at the time of the filing of this statement, or a projection based on experience within the same jurisdiction or other demonstrable factors is $23.26 per $100,000 of assessed valuation of all property to be taxed. It is estimated that the final fiscal year in which the tax is anticipated to be collected is fiscal year 2056-2057.
2. The best estimate of the highest tax rate that would be required to be levied to fund the bond issue, and an estimate of the year in which that rate will apply, based on estimated assessed valuations available at the time of the filing of this statement, or a projection based on experience within the same jurisdiction or other demonstrable factors, is $24.10 per $100,000 of assessed valuation of all property to be taxed for fiscal years 2030-31 through and including 2056-2057.
3. The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all the bonds are issued and sold is approximately $95,558,134.

Attention of voters is directed to the fact that the foregoing information is based upon projections and estimates only. The actual timing of sales of the bonds and the amount to be sold at any time will be governed by the needs of the District and other factors. The actual interest rates at which the bonds will be sold, which will not exceed the maximum permitted by law, will depend upon the bond market at the time of sale. The actual assessed valuations in future years will depend upon the value of property within the District as determined in the assessment and the equalization process. Assessed valuation is not the same as market price of real property. Therefore, the actual tax rates and the years in which those tax rates will be applicable may vary from those presently estimated and stated above.

In addition, in connection with this bond measure, the District has examined the debt service requirements due on its previously issued and outstanding voter-approved general obligation bonds and refunding bonds, the District’s fiscal year 2025-26 tax rate and assessed value and projected future assessed value taking into account reasonable assessed value growth estimates. Due to the scheduled amortization of outstanding bonds that will occur prior to the time that the first levy is expected to occur with respect to bonds issued pursuant to this measure, the District expects that when the initial levy occurs pursuant to this bond measure, that it will not exceed the fiscal year 2025-26 tax rate levied for bonds outstanding pursuant to the bond authorization approved by voters at an election held on June 6, 2000 (“2000 Measure A Bonds”) in said fiscal year. Notwithstanding this expectation, general obligation bonds authorized by this measure are secured by an ad valorem tax unlimited as to rate or amount, and although the expectation is that tax rates will not increase, voters should be informed that this expectation does not result in a cap or limit on the tax levies required to amortize bonds authorized by this measure through final maturity thereof.

Voters should note that estimated tax rates are based on the ASSESSED VALUE of taxable property on the County’s official tax rolls, not on the property’s market value. Property owners should consult their own property tax bills to determine their property’s assessed value and any applicable tax exemptions.

Dr. Brett Geithman
Superintendent
Larkspur-Corte Madera School District

Argument in favor of Measure D

Vote Yes on D: Repair Larkspur-Corte Madera’s award-winning schools to protect quality education and keep local students safe – WITHOUT INCREASING TAX RATES.

Larkspur-Corte Madera School District classrooms and schools need repairs to sustain strong academic programs and meet today’s education and safety standards. Our local students need safe, modern classrooms and science labs to be prepared to compete and be successful in high school, college, and careers.

That’s why we need Measure D. 

Vote Yes on D: Repair and Update Larkspur-Corte Madera Schools

• Improve student and school safety with upgraded emergency and security systems, perimeter fencing, and more
• Repair or replace deteriorating roofs, HVAC, electrical, and plumbing systems
• Update classroom technology systems and labs for science, technology, engineering, art, music, and math
• Implement sustainability and resilience projects, including improving water and drainage systems
• Repair and upgrade sports and athletic facilities, ensuring accessibility for students with disabilities

Measure D is Transparent and Accountable

• Funds must stay local and cannot be taken by the State or Federal governments
• No funds can be used for administrators’ salaries or pensions
• A Citizens’ Oversight Committee, independent audits, and annual public reports of all spending to ensure that funds are spent as promised

Yes on D qualifies our local schools for $8 million in State matching funds that would otherwise go to other school districts.

Supporting Larkspur-Corte Madera’s schools is a wise investment for all of us and will not increase existing tax rates. Our great local schools improve the quality of life in our community and protect the value of our homes.

Join local parents, teachers, businesses, and community leaders and vote YES on D – ensure local elementary and middle schools can maintain the excellent education our community expects and our students deserve!

ROSA THOMAS
Corte Madera Mayor

SPARK EDUCATION FOUNDATION
Jaime Heaps, Executive Director

DANA SWISHER
Local Elementary School Teacher; 32-Year Larkspur Resident

DAMON STAINBROOK
Small Business Owner; 28-Year Corte Madera Resident

SARA RYBA
Measure E Citizens’ Oversight Committee Member; Parent

Rebuttal to argument in favor of Measure D

LCMSD Doesn’t NEED this Much Money

Measure D creates a costly 30-year piggybank used primarily for maintenance. They plan to borrow $44 million, costing current and the next two generations of taxpayers nearly $100 million with interest. Almost 2/3 of the money doesn’t go to anything specific. The one compelling part of LCMSD’s proposal is $3 million of security fencing, which we all agree SHOULD be an important priority. That relatively modest amount should be funded from existing revenues. Alternatively, a much smaller bond, $10-15 million max, might be justified.

Taxpayers Aren’t Getting the Break They Deserve

Old LCMSD bonds that funded major projects are maturing. That should lower your tax bill. Instead of letting that amount of tax “get away”, LCMSD conceived Measure D: it borrows exactly the amount of money that keeps your tax bill from falling. Measure D lacks the detailed project list common for school bonds, specifying needs and associated costs. In fact, their amorphous list of uses totals only $15,000,000. This contrasts with LCMSD’s previous bond measure, featuring a $40 million project list including construction of Cove School.

Using Bonds to Fund Maintenance is Bad Policy

Defunding maintenance and using bonds to fund repairs and upkeep is an unfortunate development. Bonds are meant to fund long-lived assets, like buildings, that last longer than the 30-year borrowing period. Maintenance SHOULD be funded with your basic property taxes and parcel taxes so the costs of current upkeep aren’t shifted to future generations via 30-year debt.

Vote NO.

Learn more: CST4U.org

COALITION OF SENSIBLE TAXPAYERS

Mimi Willard, President

Argument against Measure D

Prioritize!

Marin faces a tax tsunami, with about TWENTY local measures on 2026 ballots. Spiking insurance, utilities, rent and living costs mean many people can’t afford this. Voters should prioritize. We recommend you be selective: Vote YES on 1-2 tax measures that are truly necessary, as affordable as possible, and can’t be lowered by reasonable economies. 

Measure D doesn’t meet the necessity standard. There’s no designated purpose for nearly 2/3 of the money. Vote NO.

Measure D is a 30-year piggy bank. Only a bit over 1/3 of the borrowing goes to identified needs. The rest goes to maintaining facilities. Using long-term debt for upkeep passes the bill – with interest – to future generations. And it’s expensive: With interest, LCMSD taxpayers will pay $95,558,124 to fund $44,000,000 of work.

Marin’s Accelerating Affordability Crisis Hurts Everyone: Young adults who grew up locally can’t afford to live here. Lifelong residents are forced to move. We’re all losing friends and family to outmigration. Indiscriminately approving additional taxes makes matters worse for everyone – INCLUDING RENTERS who will see higher rent AND HOMEOWNERS, whose property values have stalled as home ownership costs surge.

There are NO Senior Exemptions.

Before you decide, consider BOTH June and likely November tax measures facing Larkspur Corte Madera School District residents:

• Larkspur Corte Madera School District: 30-year bond measure raising $44 million (costing $95.6 million with interest).
• Marin Healthcare District: NEW 30-year Parcel Tax
• Countywide Childcare Services: NEW Long-Term Parcel Tax per square foot
• Tamalpais Union High School District: Parcel Tax renewal
• SMART: 0.25% Sales Tax. Unusually long 30-Year term

Larkspur Corte Madera School District hasn’t shown it needs this much money.

VOTE NO on Measure D

Learn more: CST4U.org

COALTION OF SENSIBLE TAXPAYERS

Rebuttal to argument against Measure D

While we agree that times are tough for taxpayers, we also know that times are tough for local schools. Measure D’s opponents file similar arguments against nearly every measure on the ballot.

Measure D is designed with both taxpayers and students in mind — it meets the most urgent school repair needs without increasing taxes.

What our opponents fail to see is that local elementary and middle schools are in desperate need of repair. Roofs leak, classrooms flood, and AC systems fail on hot days. These are not optional upgrades; they are critical to maintaining the quality of education in local classrooms and ensuring the health and safety of local students. Delaying repairs only increases costs over time.

Measure D is a 100% locally controlled funding source dedicated only to Larkspur-Corte Madera schools. Every dollar stays in our community, and not one penny can be taken by the state or federal government. Strict accountability provisions, independent citizen oversight, and annual audits ensure funds are spent as promised.

Voting Yes on D brings in desperately needed school funding without increasing taxes, and qualifies our local schools for $8 million in State matching funds that will otherwise go to other school districts.

Measure D is based on assessed value, meaning seniors and longtime homeowners will pay significantly lower rates than their current market value.

Don’t let a few voices overshadow the real needs of our local schools. Vote Yes on D to protect excellent schools, excellent property values, and an excellent community — WITHOUT INCREASING TAXES.

Learn more: SafeModernLCMSchools.org

BARBARA SOLOMON
32-Year Corte Madera Resident

GLEN ROTH
Corte Madera Finance Advisory Committee Member

PAT RAVASIO
Corte Madera Councilmember; Local Realtor

HALL MIDDLE SCHOOL PARENT TEACHER ASSOCIATION (PTA)
Amanda Dickerman, Co-President

JESSICA DINDAY
Larkspur-Corte Madera School District Trustee