Bond measure
Definition
A bond measure asks voters to approve a local government borrowing money, typically for a specific purpose like schools, parks, or infrastructure, to be repaid over years through property taxes or other dedicated revenue.1
Why it matters
Bond measures let voters directly authorize long-term debt and the tax increases that repay it, one of the few local finance decisions residents vote on directly rather than delegating to elected officials. Required vote thresholds, simple majority versus a two-thirds supermajority in many states, shape how easily large capital projects get funded.
Seen in the wild
In November 2024, Los Angeles voters passed Measure US with 68 percent approval, a $9 billion LAUSD facilities bond, the largest ever put before Los Angeles Unified voters, to be repaid through property tax increases of roughly $25 per $100,000 of assessed value over the life of the bond.2