Shifting Property Tax Burdens?
I really enjoy having Mayor Wes Perry in the blogosphere. If you can tolerate open comments there can be some great education and debate that goes on within these little digital bits.
I'm not going to dispute the reasons for the Council Approving the BASIC deal, I never had a doubt it was going to happen, I just like for the communicaiton to be complete and the facts to be, well, factual.
Twice in the last couple of days City Council Members have made a mis-leading statement. Mayor Perry makes it again today in his blog:
When complete this could be the highest valued property in downtown and a major step in the process of revitalizing downtown. On top of that, increasing the taxable values of such buildings shifts some of tax burden from residential property owners to business property owners.
Seeing as how the Council just voted to spend the TIRZ money on the Centennial Plaza redevelopment, I don't know how they don't remember that all property valuation increases in the TIRZ (Central Business District) above 2001 levels are captured by the TIRZ until 2031. There will be no more property tax dollars generated for the general budgets for the City, County, Hospital, or College until the TIRZ is abolished or expires.
So, while there is more property tax collection from the Central Business District, there is no means to turn that into reduced property taxes, because at its heart the TIRZ's mission is to increase spending on Downtown, not shift the property tax burden back to downtown....at least until 2031.
0 TrackBacks
Listed below are links to blogs that reference this entry: Shifting Property Tax Burdens?.
TrackBack URL for this entry: http://www.jessicaswell.com/cgi-bin/mt/mt-tb.cgi/2583
2 Comments
If you MUST fear something..fear something REAL !
Midland Magic Chamber Dust has been around since 1950 and grows more powerful every year!
It exists !
Take a look at the water contracts !
Take a look at land acqusitions !
Take a look at who made the money !
Who was the winner for the last sixty years !
Midland Magic Chamber Dust will not allow you to say their name !
Ah well , those people now speak through attorneys and , I suppose, are no longer Midlanders...so what the heck.
Never doubt Midland Chamber Dust ..It does work .
Not especially in old farts...
But it HAS held up for 60 years.
If we are to take Mr. Huseman's words over those of the MDC (and we should) that the deal would have gone on anyway then the return to the taxpayers of Midland has actually been reduced, not increased. Only in EDThink does spending $2,000,000 when you didn't have to translate into a greater return.
To say that the MDC had any catalytic effect on this deal because of the provided $2,000,000 handout contains exactly as much actual truth as saying that the MDC had a catalytic effect on this because they sprinkled Magic Chamber Dust on the original P&Z filing.
It is the same thing all over again. Claims of great deeds all entirely refuted by empirical evidence and in this case, actual words and quotes from the involved parties.
(For the uninitiated, Magic Chamber Dust is made by combining ground up unicorn horns with the liquified cognitive dissonance of council members who claim to be "economic conservatives".)