<< In a message dated 11/27/01 10:09:46 AM Central Standard Time,
[EMAIL PROTECTED] writes:
<<
Lets look at the question in a different way. If my
house value increases 10% in one year, does that mean
I should pay 10% more to Minnegasco for my gas? Does
that mean I should pay 10% more to Excel? to the water
department? Does that mean I should pay 10% more to
anyone? Not at all. It simply means that some unknown
individual has determined that I have an asset worth
more this year than last. Next year the asset value
might go up a little, it might go up a lot, it might
go down, there is no way to know.
>>
Keith says: Two thumbs up to this letter writer for clarity in this
issue. I hope all look carefully at the other 10 paragraphs he wrote. I see
the total city property tax levy as "the pie". The property valuation
represents how big a slice of the pie is each property owners responsibility
to provide. I believe the ideal is that if all our property values go up in
tandem, each tax payers net cost would remain the same, perhaps by reducing
the tax rate (multiple) to which our valuation would be subject. So let us
focus on raising up the lesser, more challenged neighborhoods. As we make
them acceptable and desirable places to live, work and shop, new tax base yet
untapped, will follow. And it is fair.
Of course, the other writer referred to so many ways our city leadership
had found to spend our money without our knowing it (but with our owing it).
I might add TIF districts as another bonding technique they utilized. Tax and
spend, repeat; as a mantra at the old Cityhall. The tax burden also
increased, obviously, for those buildings and owners still standing after the
city "slash and burn willy-nilly-vanilli" demolition of our older or
otherwise challenged building and housing stock. With most of the shiny, new
replacements under one tax base gulping 130% subsidy or another, who will pay
later?
Don't allow raising of the levy amount to make the pie bigger; just say
no no no no.
Keith Reitman, more thought/less money, now Near North >>
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