Follow-up coverage and more FACTS about the consequences of an April vote from THE KICK-ASS DENIZENS of our blog community who aren't afraid to DO THE MATH beyond City Hall presser hype . . . Here's the word . . .
$800-Million GO - Vote Yes to double your taxes.... again, and again, and again.
"Slimy". That's the word that comes to mind after reading Tony's KC's report on the upcoming bond issue.
Is it any wonder there is NO TRUST of City Hall.
Here's the slimy truth they're NOT TELLING you. Let us assume the $6 increase for a $100,000 home is correct (It's not, but let's give them the benefit of the doubt).
That $6 increase is ONLY for the FIRST 40,000,000 in new general obligation bonds issued. Year two they promise to issue ANOTHER 40,000,000 in GO bonds.
Guess what happens when they double the amount of debt is sold?
Not too difficult to figure that math out. That promised $6 turns into $12.
So, what happens the third year, when they sell another 40,000,000 in general obligation bonds? You're probably catching on, add another $6 to your tax bill. That's 100% increase year two, another 50% increase year 3 and so on...
You can see where this is heading and it's not pretty. In five years, you'll be paying at almost $50 with no end in sight and higher taxes GUARANTEED by our city.
Hold onto your hat if you have a home worth $250,000, by year 10 your increase would jump to $185 a year. Each year growing again, and again, and again until year 20.
Voting Yes guarantees ever increasing taxes. Voting no forces our leaders to make do with what they are already collecting.
Oh... and by the way, the City always seem to find millions to pay architects and planner for plans (airport or streetcars) for things nobody wants. Perhaps some of those dollars could go to our streets first instead of lining the pockets of the politically well connected.
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Developing . . .
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