EC Library: They’re Asking You to Pay $340/Year — But the Math Says $860
Influence by social media posts and comments
For months, voters were told a simple, digestible number:
17 cents per square foot.
A 2,000-square-foot home = $340 per year.
It sounded responsible. But critical financial information was not disclosed.
At the February 3rd council meeting, a committee co-chair stated the bonds would be issued at approximately 5% interest.
Using updated project costs of $37.2 million and those financing assumptions, a 2,000-square-foot home would need to pay about $860 per year.
That is 2.5 times what residents were told during the signature-gathering period.
Let that sink in.
Timeline Issues
• 2024: Estimated cost was $21.2 million
• January 2026: Cost increased to $37.2 million (76% increase)
Despite this, the tax rate stayed at 17 cents.
Voters were never informed or given a chance to reconsider.
Built-In Tax Increases
The initiative authorizes flexibility to raise the tax if needed.
The 17-cent rate is not a ceiling. It is a starting point.
If This Passes at 17 Cents, Three Outcomes Are Likely:
1. No library is built due to insufficient bond coverage
2. A much smaller facility is constructed
3. The city returns for more money
None of these risks were disclosed to voters.
The Pattern
Residents have seen this before: redirected funds, expanded taxes, and shifting promises.
Changing the presentation does not change the math.
Bottom Line
If the true cost is $37.2 million and interest is near 5%, then 17 cents was chosen because it polls well — not because it works financially.
That is strategy, not transparency.
Call to Action
Contact the City Council and demand:
• Full financial disclosure
• Written financing assumptions
• Honest revenue and expense projections
Until the numbers add up, we do not trust this proposal.
Until the numbers add up, we are voting NO.
El Cerrito Committee for Responsible Government (ECCRG) 