Quote:
Originally Posted by standinmotion
Does this $15/year take into consideration inflation too?  |
As I bantered back and forth with Tombe on Twitter - it's $15 if you attribute the full City cost ONLY to the residential taxpayer. But as Tombe himself argued, all money whether capital or operating is fungible. So taking the same principle - that cost should be thought of also as being allocated across all revenue stream types - including residential, non residential, sale of goods, etc.
Residential property taxes are about 25% of the City's revenue, therefore the "homeowner" share of the cost is 25% too. So that's about $3.75 per household per year.
Further, and as he acknowledged after I pushed back - by year 35 there are more households sharing that burden as well. You could expect 40-50% more houses being part of the assessment base, so that per household cost also decreases over time.
So, in reality, on average it might be closer to $3.00 to $3.25 per household cost per year, or say less than 1 cent per household per day. About half a cent per citizen per day.