Quote:
Originally Posted by Bingo
Those in the know on city taxation, CRLs etc ...
I've seen this statement, is it true? (guessing I'll hear it is and it isn't  )
"If you are a Calgary citizen, not living in West Village the extent of your contribution to this project is the $200M that the city had planned (unfunded) for the field house."
Because I think that's really key in this argument. |
I've been struggling with this, but I don't think it works out that way.
This link explains it pretty well for current CRL's in the city:
http://www.calgary.ca/CA/fs/Pages/Pr...-District.aspx
How I'm interpreting it is that it's not really an incremental tax for West Village occupants, rather, as their mill rate goes up with higher property values the same amount goes to city revenues and the difference to the arena, meaning the rest of the city picks up the tab for the resulting shortfall as a result of this diversion (if everything is kept equal).