1:15:16
And that also there's a language that we need to be careful of because of the Senate's new 2472 tax property tax revision that certain things we need to do in order to offer that 10ear tax uh 10ear tax um tax abatement.
2:00:33
So the Kemps their assessed value it's 253,000. at a 4% interest rate over a 10-year amortization, they'd have an additional 976,000, sorry, $976 added to their property tax bill per year.
57:37
Right now this parcel is bringing in roughly $1,000 a year of property taxes. By the time we um outfit our facility, we're going to spend in the neighborhood of $6 million in private capital funding.
1:01:21
Just want to get that front kn. Thank you. Ambering was I had 20 year property tax. Hey, does anyone else have any new business? The only new business I want to let you both know is that I received a phone call from Sam Deliv last week of…
44:29
Mike, [clears throat] when you talked about that 10% increase in value, do they use the assessed value as the baseline of preassessed value and a post…
5:43
You know, that whole property tax reduction thing just looks kind of like a shell game to me. You move all the parts around at the end of the day somebody's paying more for the benefits that some people are getting.
23:35
And that 21 cent reduction in the levy equates to about 50 to $60,000 in general funds. Uh so again just want to mention uh you know we've got several years to kind of deal with the operational changes that the property tax bill are likely to create uh for the city.
30:05
Johnston City Council: I know that, you know, we've yet to finalize a lot of the fine print with regard to development agreements and potential incentives, and property tax bills haven't helped any of us move that forward to the level we wanted, but I know when the first conversations came forward and discussions happened at the Economic Development Ad Hoc Committee, and at different points.
52:11
But do we really have control over that legally? - You want to chime in? - So the taxes are going to be according to state law. They'll be distributed based on the assessed value of the property.
52:11
But do we really have control over that legally? - You want to chime in? - So the taxes are going to be according to state law. They'll be distributed based on the assessed value of the property.
1:19:02
I'd like to see us be able to solicit homeowners within those communities that we would, that we would engage them to help maintain those neighborhood parks and then provide them with a tax exemption, call it a community exemption on their property taxes to incentivize someone to come forward, volunteer and take ownership of those parks and take care of them and keep them beautified.