03-24-2007, 10:51 PM
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Tastykake Maker
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Join Date: Jun 2006
Posts: 121
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Quote:
Originally Posted by dogfaceboy
I'd totally agree with your analysis, if Nutter wasn't going to be our next Mayor.
I say he will be and he'll implement a new tax incentive to promote buying in lower priced areas.
He outlined it in some detail but the crux of it is, he'll give a larger tax abatement{probably 15 years} for new construction and total rehabs to encourage growth in certain economicaly depressed areas.
He's also proposing to decrease the current 10 year that is offered as insentive to possibly 8 years, and that will be for certain areas that are higher priced homes.
I'm no economist by any stretch but on the surface I see his idea as solid and promoting growth, which as you mentioned is needed in the lower end of the middle class market.
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Tax abatements are not the brightest idea for the city's growth. I wish politicians would stop using them as some panacea for all the city's ills. Every time you give a tax abatement, you erode the city's tax base!!! Sure, we have a new house built, but then we have less tax money for cops, firefighters, and city schools!
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