Quote:
Originally Posted by Classic_Sniper
Has anyone bothered to do the math on how much a new arena will actually cost each tax payer? When the public hears hundreds of millions will be spent, that obviously doesn't sound too good. But when you divide the total by every tax payer, what's the actual cost to each individual? if someone with the knowledge can find that out, I think that might open some eyes here.
|
The only way to find out the cost per taxpayer is to come up with a percentage and apply it to your tax bill. No one entity pays the same (or very, very few do).
Rudimentary speaking take the city portion of building cost, divide it by the city revenue, then multiply that percentage by your yearly bill. You would also need to know when and how much of the cost is being paid, as that impacts the yearly income statements from the city. THEN figure out if you are cutting from other areas to fund it, OR raising taxes to account for the shortfall. There is no simple math.
It's going to vary obviously, but likely resulting in larger amounts being paid by entities that pay more in taxes (corporations).
Not exactly a "business friendly" thing to do IMO.