Quote:
Originally Posted by dewilson58
Thru all this, do you know what I wished the county would have done????
Issued a Special Revenue Bond and had future NEW property taxes pay off the bonds.
If there are 3,000 house being constructed each year, (what's the average assessed value??) for say $300,000 each, this would generate about $7,000,000 in new tax revenue every year. After ten years of growth @ 3,000 per year...........that's $300mil in tax collections. Plenty to pay off the Special Revenue Bonds.
I wish.
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Well, that was in fact a helpful post, and I agree, I also wish that was how the developer decided to pay the impact fee. I guess that begs the question, why do you suppose they chose to not issue a Special Revenue Bond, and instead took the path of forcing existing Sumter County residents to foot the bill for a large portion of the impact fees?