Quote:
Originally Posted by puckedoff
Its math. The city needs X dollars, so they divide that out to the properties (weighted by property value). There is more vacancy so there is fewer denominator so the remaining properties have to pay higher tax.
Everyone complains about property taxes but the city needs money to function! I don't see people complaining that they have too many big blue ring.
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Following the math to the letter doesn't necessarily make for good governance or economics for that matter. It's going to potentially cause a further feedback loop that means further vacancies and now you'll not only have failed downtown business but failed businesses all over the city and more people out of work or drowned in debt. I know a lot of small business is not going to weather the combination of increased taxes and increased wages very well.
How about government do its job to support and revitalize the economy rather than put further pressure on it because they are stubbornly sticking to line items on their budgets. Maybe they could think about slashing their budgets and not being wasteful. I've worked for civic agencies and the waste is astronomical. Every agency or group keeps spending to the limit every year to ensure they get the same budget + more back the next. My friend worked for one where they would throw out all their equipment every year and just order new stuff in order to max out their budgetary spending.