Maybe I don't understand this, but how can tax capacity for the whole city,
as defined by Jack Kryst, be only $54.7 million? Maybe he meant BILLION?
After all, 1,000 homes at $60,000 would be $60 million (before homestead
credits). I have to believe that the city receives more than $54 million
in property tax revenues.
Bruce Gaarder
Highland Park Saint Paul
[EMAIL PROTECTED]
Jack Kryst wrote:
>
> After discussing the really big numbers that describe the City's estimated
> market value I suppose the tax capacity numbers seem small. The City's total
> captured tax capacity is approximately $54.7 million for tax collected in
> 2001. $31 million is a big piece of the total. Keep in mind that we are
> talking about tax capacity, the number to which the local tax rate is
> applied to determine the amount of property tax a property own pays.
