Question: The comment Terrell references says that revenues would have to triple by 2010. Does that require that rates would have to triple to bring in those revenues as many apparently fear or is it possible to achieve significant increases in revenue by increasing the tax base through RT and Council put on their salesperson hats and encouraging lots of spiffy new (and subsidy-free) investment in Minneapolis?
Also, does anyone have any idea how valuation plays into this equation? I our property values continue to increase, more revenue would come in without requiring rate increases, correct? And if our property values continue to increase, does that kind of throw a monkey wrench in the argument of some that Minneapolis totally sucks and everyone is moving out as fast as they can line up the U-Haul? After all, supply and demand would say that if nobody wants to live in Minneapolis, property values ought to decline. I realize this does not take into account problem areas such as Hawthorne or Phillips. Can anyone in those areas speak to whether their property values are rising or falling? Mark Snyder Windom Park (59A) On 12/2/02 3:24 PM, "Terrell Brown" <[EMAIL PROTECTED]> wrote: > Next Monday (Dec 9th) the City of Minneapolis is holding a "Truth in > Taxation Hearing" at City Hall. > > The City has its budget document on its web site. It's long, really > long. I found this comment on page 23 of the section on property taxes > rather interesting: > > http://www.ci.minneapolis.mn.us/citywork/city-coordinator/finance/services-bud > get/docs/budgetbook2003/Section3.pdf > > "In order to continue to fund all that the City does and pay off its > debts (both internal and external), it is estimated that the property > tax revenues collected by the City would have to triple by 2010. (this > increase does not include revenue to do new things - these amounts > reflect current commitments for current programs only). This level of > increase is not an option. The City's policy-makers are working to > make important decisions to balance priorities of infrastructure > investments, parks and recreation, public safety and library services" > > > I would disagree with the statement that the "level of increase is not > an option". The city needs to change the way it does business to avoid > taxes tripling over the next 10 years. > > By the way the phone number of your City Council rep is 612-673-22xx > where the xx is you two digit ward number (ie if you live in the 2nd > ward call 612-673-2202) > > > > Terrell Brown > Shy, quiet guy in Loring Park > terrell at terrellbrown dot org > > http://www.skywaynews.net/display/inn_voices/voices01.txt _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
