There's no doubt about it--no one likes taxes unless, of course, you are part of the YES group here in Lake Worth who want to "save" Lake Worth from itself and all the bozos on the bus. They are supporting a "sin" tax in its own right. We really have no idea how this money would be allocated but you can bet that multi-millions will be spent on building infrastructure for developers at the Park of Commerce - Maxwell's dream.
We have already spent over $1.2 million there on design and engineering and the budget projects another $3,350,000 next year that has nothing to do with the Lake Worth 2020. The plan calls for a total of $11,500,200.00 to be spent by year 2023. Just think--all of the extra taxes we might bring in because of rising property values through this period will be spent on a piece of dirt that will NEVER generate the ad-valorem to pay us back. Can you imagine helping private enterprise to this extent? Is this communism to an extreme without one single taxpayer owning anything other than paying for it all?
This is a sin against the people.
Hell, people don't even want to be taxed on sugar--
6 comments:
Nescience or Ignorance or Both?
Nescience (from Latin verb nesciere)
"to not know because knowledge was absent or unattainable."
Ignorance (from Latin verb ignorare)
"to not know even though necessary information is present, because that information has been willfully refused or disregarded."
$16 Million Plus 4 POC - Hummmmmm
How many roads, pipes and fire hydrants can this money buy?
$1.200,000 design & engineering
$3,350,000 next year (Not LW 2020) $11,500,200.00 spent by year 2023.
"New Jersey Governor Chris Christie’s turnaround plan for the municipality, begun in 2011 and hinged on Revel’s success, hasn’t delivered, prompting Moody’s Investors Service to cut the city’s $245 million of general-obligation debt to junk last month."
http://www.bloomberg.com/news/2014-08-12/atlantic-city-faces-downward-spiral-with-revel-s-demise.html
It amazes me that you can spew forth that the POC will never pay ad-valorm taxes when there is nothing even there yet. How but mentioning that the Casino is a shining example of something that is built, and will never pay for itself.
You're amazed???????????????
We have always been told that it would take a few years for the Casino to "pay for itself." We needed one good year under our belts to ascertain the true costs there. The Casino belongs to us--the park of commerce, on the other hand, belongs to private individuals. But then you cower to Snowbirds and allow them to get decal passes...parking revenue you just gave away...an example of a bad decision.
When you are putting in $9.6 million into the POC of taxpayer money with the latest budget indicating over $11 million, how long do you think it will take to make that money back? 100 years?
Anonymous at 12:21. It was not said that the POC would NEVER pay ad-valorem. Businesses located there pay that now. It was stated that the amount of taxes derived there would never pay back the taxpayers for its GenObligation bond investment and that it would take 100 years. In other words, a lousy investment of tax dollars.
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