Coming soon: Quick changes in tax policies
http://www.fortwayne.com/mld/journalgazette/news/editorial/17047489.htm
From the article:
"Indiana lawmakers are moving toward a monumental shift in tax policy that has enormous ramifications on each Hoosiers’ pocketbook – all in the next three weeks."
"Such change should be reviewed in great detail, subject to public hearings and public debate. Given their track record, however, legislators may well craft the final version behind the scenes and ram it through in the waning hours of the session."
"Contrast where the legislature is headed today with the Harrison Square project. Downtown development has been studied time and again for years. The city has conducted specific studies to measure interest in downtown housing. A commission studied the effects of a downtown baseball park. Residents’ taxes won’t be affected. Still, many residents complain that the project is moving too quickly."
Sunday, April 8, 2007
Relative Speed
Posted by scott spaulding at 4/08/2007 09:15:00 AM
Labels: Harrison Square
Subscribe to:
Post Comments (Atom)
2 comments:
It's flat out incorrect to state "Residents’ taxes won’t be affected". The truth is by creating these special tax districts the city is removing property from the tax base. Therefore, when government spending inevitably goes up (like the $800 Million FWCS boondoggle) there will be less property to pay for it. In other words, everyone outside the special tax districts will have to pay a larger share than they would have otherwise.
Of course it's also true that only the increase in property values is covered by the special tax districts. But the idea that this property would NEVER be developed seems silly.
The special tax districts are a convenient political tool for development but they are not the wisest long-term solution. The rest of us will end up paying more than our fair share...
Jeff - AMEN John K.
Post a Comment