[Mpls] State deficit, local problems

[Mark Engebretson]

Carol writes:
...The difference between the old "mortgage payment" and the new
one, is what was diverted to NRP. Those funds could have also been directed
back to the general property tax revenue stream or used to pay off bonds
early, allowing the full amount diverted to the general property tax revenue
stream earlier. ...
++++++++++++++++++
Mark E. writes:
Carol, correct me if I'm wrong, but if the funds (property taxes) had been directed back to the general property tax revenue stream, then the revenue would have divided among the city, county, schools and other local taxing jurisdictions. Isn't that right? I believe at the time the decision was made, the city captured only about 25 percent of the property tax revenue generated in the city. Not sure of the percent figure now.

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