Monday, September 17, 2012

TIF Fact #3 --- TIFs Cause Higher Property Taxes For Everyone And Cause 41% of Circuit Breaker Penalties To the Taxing Units

I sent the following email message to all City-County Councillors, select media representatives, and Senator Luke Kenley.
For the pay-2012 property tax year, Marion County TIFs combined to cause increased property taxes throughout the County and caused 1/3 of the circuit breaker penalty imposed on schools, libraries, and other taxing units.
From the TIF Study Commission:
For pay-2012 , all of Marion County's TIFs combined caused
$56 million in increased property taxes to taxpayers
$43 million in increased circuit breaker penalty to taxing units
The total circuit breaker penalty to all taxing units in pay-2012 was $105 million.
Have you asked what impact the proposed expansions of the consolidated downtown TIF are projected to have on higher property tax rates and circuit breaker penalties?
The Council should demand full disclosure before Prop 15 or any other TIFs are considered.  Otherwise you won't know what you are voting on.
Citations : TIF Study Commission Report, Appendix 2, part 1 - pages 6 and 25-26

No comments: