Iliches trying to fleece us for another $800 million.

[Richard]

[QUOTE=Henry Whalley;631691]

You are telling me that I am 100% wrong that tax credits are not or cannot be used for or as bridge loans./QUOTE]
tldr

Its people like you that helped screw up the city with attitude.

You do realize that 95% of all of these big deals coming online will be economically removed from the tax rolls for the next 25 to 30 years?

Including corporate taxes?

So not only are you paying the note you are having to cover the loss of the corporate taxes plus having to cover the loss each year because of the properties pulled offline.

The city of Detroit was paid a lump sum of $25m for the property used for the new bridge to make up for the permanent loss in property taxes over there,that’s equal to 5 years of property taxes in exchange for a future cities lifetime of the ability to collect any taxes,corporate or property,gone forever.

The city has a 2.5 billion dollar budget and you got a 1 time payment of $25m,you have broken even now as it’s been 4 years,so now you are losing $5m a year.

Thats 5 million more a year extra that the taxpayers have to come up with to make up for the loss,on top of also losing a majority of the revenue for every project that has also come online now and in the future at this rate.

All of these politicians are not going to be around in 25 or 30 years they are done in 4-8 years.

yep tdlr is the answer.

What is your breaking point ?

That point where the taxes become so much of a burden on the average taxpayers that they just give up and jump borders to the burbs or even worse out of state,which in turn raises the taxes on the ones left.

The debt does not go away.

O sorry,its already happening.

TDLR

Detroiters are not running the city and determining its future,the state is,really no point of going through the motions of holding local elections,those you have elected are as quiet as a church mouse and the city is a ward of the state.

I guess if people are comfortable with that and have bottomless wallets,it remains what it is.

[drjeff]

[QUOTE=Richard;631697]

Its people like you that helped screw up the city with attitude.

You do realize that 95% of all of these big deals coming online will be economically removed from the tax rolls for the next 25 to 30 years?

Including corporate taxes?

So not only are you paying the note you are having to cover the loss of the corporate taxes plus having to cover the loss each year because of the properties pulled offline.

The city of Detroit was paid a lump sum of $25m for the property used for the new bridge to make up for the permanent loss in property taxes over there,that’s equal to 5 years of property taxes in exchange for a future cities lifetime of the ability to collect any taxes,corporate or property,gone forever.

The city has a 2.5 billion dollar budget and you got a 1 time payment of $25m,you have broken even now as it’s been 4 years,so now you are losing $5m a year.

Thats 5 million more a year extra that the taxpayers have to come up with to make up for the loss,on top of also losing a majority of the revenue for every project that has also come online now and in the future at this rate.

All of these politicians are not going to be around in 25 or 30 years they are done in 4-8 years.

yep tdlr is the answer.

What is your breaking point ?

That point where the taxes become so much of a burden on the average taxpayers that they just give up and jump borders to the burbs or even worse out of state,which in turn raises the taxes on the ones left.

The debt does not go away.

O sorry,its already happening.

TDLR

Detroiters are not running the city and determining its future,the state is,really no point of going through the motions of holding local elections,those you have elected are as quiet as a church mouse and the city is a ward of the state.

I guess if people are comfortable with that and have bottomless wallets,it remains what it is.

This is so full of idiocy I can't respond to it all, but it's rich you think that land Detroit owned was somehow generating tax dollars [[the city does not pay itself taxes on it's own property, duh), so now that they have sold it for $25 million it's somehow a net loss.

[Richard]

[QUOTE=drjeff;631713]

This is so full of idiocy I can't respond to it all, but it's rich you think that land Detroit owned was somehow generating tax dollars [[the city does not pay itself taxes on it's own property, duh), so now that they have sold it for $25 million it's somehow a net loss.

You claim idiocy then post that ….

Bridge authority representatives said 636 land parcels have been acquired by the Michigan Department of Transportation, leading to 229 residential and 88 business relocations.
As of April 1, 235 structures have been or are in the process of being demolished, representatives said. It’s unclear how many still must be cleared until land acquisitions are finalized by September.

According to you the city owned all of that and they cannot tax property that they owned,if they already owned it why was there a need to purchase it?

The $25m was to reimburse the city of Detroit for the future property tax and business tax losses.

Based on property land values and corporate tax collections on that day,with zero consideration as to more business locating there or zero increase in land values in the future,for ever.

Before you start making it personal in the future,youu is should probably have at least a little bit of a clue as to what you are claiming others not of having,otherwise you just look silly.

[Henry Whalley]

This is so full of idiocy...

Friends don't let friends read Richard's bloviations. Just say TLDR.

[Richard]

Friends don't let friends read Richard's bloviations. Just say TLDR.

Friends do not let friends run about looking like a hypocrite,you really do not have to say anything,not that you are anyways.

You are confusing the word friends with Comrades,which would apply in your world.

[Henry Whalley]

yep tdlr is the answer.

tldr