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