[QUOTE=dewilson58;1888353]To frame this up.......is this the math???.....round numbers......
25% tax increase generated ~$50,000,000 per year.
Let's say there are 2,000 new homes built per year.
That would tell me: It would take an additional $1,000 impact fee to reduce the tax rates 1 out of the 25%.
So if the Impact Fee would increase to $3,000.............county taxes could be reduced 3% to 4% out of the 25% increase (to be revenue neutral).
Perhaps based on the present tax base you are perhaps correct. But adding 100,000 new homes at an average of $3000 in annual property tax the new base is increased by $300,000,000. Not to include the increase in sales tax and gas tax... Also, the development is not just residential, there is a lot of new commercial as well.
Last edited by BiPartisan; 01-16-2021 at 08:28 PM.
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