Originally Posted by
Richard
Candian government buys the properties in Del Rey and leases the ones that are being used as fixed structures back to the perspective agencies.
Ie they pay to build the customs plaza,but still own it and leases it back to the agency triple net.
Is that building tax exempt,as a government agency,I believe it is tax exempt,but is Canada also tax exempt as a landlord role.
To build the supporting highways and ramps,houses and businesses are demolished,each one of those properties were on the tax roll subject to increased tax value in the future.
The properties are now demolished and even as a vacant lot thier tax value is decreased,if it takes 5 years to build the bridge that lot has a loss of tax revenues to the city for 5 years and beyond because it will never be replaced at the maximum tax value with a structure.
Lets say it is $2000 a year,that is $2000 more the rest of the residents have to replace in the budget and cannot count on in the future.
Now multiply that X hundreds of properties,that adds up.
I do not have a problem with others disagreeing with me,all they have to do is provide those numbers and how they directly impact the city and if they actually do.
Those numbers should have been provided to the U.S. Taxpayer and even more importantly the city residents if they are going to be required to make up the loss.
They can provide those numbers by adding up the taxable value before the buyouts began and what the taxable value is now,the city cannot because they no longer have taxable jurisdiction over the properties because they are now owned by the government of Canada.
Is the Government of Canada tax exempt when it comes to owning property on US soil?