Frequently Asked Questions
Why does this measure matter?
If successful, a local bond measure would generate millions in general obligation bonds, creating thousands of affordable homes for vulnerable populations including seniors, low-income individuals and families, persons with disabilities, people experiencing homelessness and housing for farmworkers.
Who is leading this effort?
Ventura County Housing Coalition (VCHC) is a fast-growing, large coalition in support of this measure. The coalition includes non-profit, philanthropic, business, and public sector partners working at the intersection of housing, social equity, climate, transportation, and quality of life.
When would the measure be on the ballot?
While no decisions have been made, a measure could be placed on the November 2024 ballot.
Why is a measure necessary?
Ventura County housing costs continue to rise, placing the burden on hardworking families, local veterans, teachers and farmworkers. An affordable housing measure would generate millions in locally controlled funding to create affordable housing solutions for residents.
How can I be sure funds are spent responsibly?
A housing measure for Ventura County would include fiscal accountability protections including a mandatory citizens' oversight committee and annual audits to ensure funds are spent as promised.
How will the bond be funded?
General obligation bonds are funded through ad valorem property taxes and vary depending on the size of the bond.
What is the difference between assessed and market value?
The cost of bond measures is based on the assessed value of properties. The assessed value of a property is based on the original purchase price and may not increase by more than 2% a year while the market value tends to grow at a much faster rate based on market conditions. Thus, the assessed value is usually much lower than the market value, especially if a property was purchased long ago at a much lower price than it could be purchased for today. It is this lower assessed value upon which the cost of a bond measure is based.