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> Yearly Property Tax Paid to City in Project Area: $44,030 Why is this being calculated based on the project area tax contribution only?
by lxe 6y ago
> Yearly Property Tax Paid to City in Project Area: $44,030
Why is this being calculated based on the project area tax contribution only?
- idreyn 6y agoPresumably as a nod towards scalability, on the assumption that in aggregate it ought not take more than the entire town's property tax revenue to keep the town's roads in good condition.
- ssivark 6y agoBecause other areas will have their own projects (definitely, over the lifetime of the loan, even if not right now), and you can’t make one pay for the other to be long-term sustainable.
- burlesona 6y agoBecause if the numbers don't work on overhauling a single block based on the tax revenue generated by that block, they also don't scale up to work if you draw the tax revenue in from "elsewhere." Everywhere else ALSO has its own road, sewer, etc. to maintain, not to mention fire and EMS services.
- deleted 6y ago[deleted]
- hinkley 6y agoIf either of these roads serve as an arterial, then the footprint of the change is quite a bit bigger and you are correct, we should consider a wider tax base reflecting the radius of the impact of the roads. If however it's mostly a residential road, which it seems like it might be, then the scalability point being made by the other responses is probably closer to the truth.