More new apartment developments are being granted property tax waivers lasting eight years.
The Reporter article stated this will save one developer $1.7 million over eight years. These new developments will bring in thousands of new people and vehicles creating additional burdens on schools, police, fire, roads, traffic congestion, hospitals, etc., but will not be paying the taxes used to support those services for eight years. Incredible.
Someone has to pay for those added services. Guess who?
The City Council is also looking for new ways to increase property taxes on the rest of us, home and business owners. I’ll bet the developers are laughing “all the way to the bank.”
Good job, council.
– Brent Benson