Carol Becker writes: "It is true that these retailers do pay property taxes although the amount that they pay has dropped quite dramatically over the last five years due to the legislature."
Vicky adds: Commercial property in Minneapolis STILL pays 400% higher property taxes than the equivalent value homestead property. In other words, a $200,000 home pays roughly $2,000 (1%) and a $200,000 commercial property pays roughly $8,000 (4%). For decades, businesses (non-voters) have subsidized homeowners (voters) in Minneapolis. The Legislature is taking baby steps toward balancing the scales, primarily to slow the business exodus from Minnesota. Minneapolis has five choices: 1. Continue its compulsive spending and try to lure businesses to pick up the tab; or 2. Continue its compulsive spending and try to get other State and Federal taxpayers to pick up the tab; or 3. Dramatically reduce spending and try to service existing debts for the next twenty years; or 4. Dramatically increase homestead property taxes and let the people who voted for the spending pay for it. 5. Default on all or part of nearly $2 billion of existing debts. Options 4 and 5 constitute political suicide, so there are really only 3 choices. Take your pick. Vicky Heller North Oaks Cedar-Riverside For those who want to learn more, Chairman Greenspan is providing testimony to Congress right now. REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
