Santa Monica tax vote could complicate Malibu school district split Play

Financial uncertainty in Santa Monica may derail the creation of a separate Malibu Unified School District.

A critical property tax down in Santa Monica expires this year. It's $495 per parcel per year, with an exemption for senior citizens. If the measure fails, it means $12 million a year less for schools in Santa Monica.

Santa Monica financial oversight committee parent Payal Manor put it this way:

"I know that there is a citizens funding measure that is going to be on the ballot. But the point here is, there is significant risk, and if the current funding structure does not adequately cover the financial risk to Santa Monica and to Santa Monica school children in this scenario. Twelve million dollars is a large number that is at risk."

If Santa Monica voters approve the continued parcel tax, that problem disappears. And voters in Santa Monica — most of them renters — usually approve property tax ballot measures, since the taxes hit landlords.

Despite the tax problems down in Santa Monica, members of the Financial Oversight Commission said they do not oppose the creation of an independent Malibu school district.