> Mark Engebretson 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.
Mark is right - Any TIF money diverted back into the normal property tax stream would be split among the various taxing jurisdictions, the largest being the City, the County, and the School Board. It was always an issue with the other jurisdictions that when the City decided to do a TIF district, it got to control all the money, not just the 25% that would have been the City's portion of the revenue stream. Carol Becker Longfellow _______________________________________ 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
