Tonight’s meeting, page 86-88 shows properties shifting from Commercial to Exempt:

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  • 2012      195,603
  • 2013       59,553
  • 2014     1,001.620
  • 2015      1,101,520
  • 2016       387,525

 

Total =   2,745,821  in lost taxes from the Commercial Tax rolls.   

Remember this is not a one time hit, this is forever!!!  Over the next ten years this means $27,458,210 in lost tax revenues.  Actually more since the taxes would have gone up.   Remember the two most important jobs of the City Council.

  1. Budget
  2. Protecting and expanding the tax base

 

Ironic the the new fund for New High School Stabilization calls for $2,750,00 in this year budget (FY18).  Almost the identical to the amount that has been lost in our Commercial tax base between 2012-2016.