I couldn't believe what I was reading. About as crazy as Supt Spring telling people to vote for a larger increase because you'll maybe get it back. Is this the gov't people really want?
While most downtown owners are exempt from paying taxes (well, they pay pilots but the pilot amount is only a very very small percentage of what they would pay in taxes), there are some newer businesses that do pay taxes.
But the city dems are protecting their wealthy cronies downtown---whether they are exempt from taxes or they are like Subway who gets a reduction.
Between the exemptions downtown and the successful tax certorari's on downtown properties, the homeowners really have to make up a lot in taxes not paid on downown.
If the city did a reassessment that means the taxpaying downtown properties would see their tax bills increase back to what they were before they sued the city, because as assessment values fall the tax rate rises.
And of course the city dem leaders also don't want to reassess because the mass reduction would be an admission that what they are doing leading this city is nothing but massive failure.
Today a house that is assessed for $100,000 might pay perhaps $6,000 in taxes. In other cities a house may be worth $200,000 before it pays $6,000 in taxes. So imagine after an assessment reduction and the $100,000 house paying $6,000 has it's assessment reduced to $60,000 but because tax rates rise the house will still be paying $6,000 in taxes.
That can be a major concern of the failed dem leaders in the city. If a mortgage payment today is made up of 50% in escrow for taxes, imagine what happens when reassessment is done and people are paying 75% of their mortgage payment in taxes!
Shame on the mayor, dem council reps, department heads, dem county people and metroplex for their policies that cause massive reduction in home values