Posted under this article by Cary Elementary School Board President Scott Coffey:
Between the audio of the meeting and some of these comments, I’m finding it difficult to find a factually correct statement.
They’re either flat out wrong or exactly backwards.
First: No taxpayer was going to get a “free ride”.
All new construction comes onto to the tax rolls and pays the appropriate tax.
Its just that the county didn’t jack up their original levy extension request sufficiently to capture this missing new growth.
Second: New growth comes onto the tax rolls on a pro rata basis based on the occupancy date of that project.
So, if a new Starbucks gets built and opens on July 1st 2016, Starbucks will pay in 2017 a tax bill that is prorated for the first 6 months under its old assessed value plus 6 months based on the stepped-up basis of the new completed building.
And 2018’s tax bill will then reflect a full year at the new, stepped-up assessed value.
Third: By definition, a permanent reduction of an operating levy requires one to NOT levy for new growth.
It means that you’ve requested an overall levy extension amount that is less than the previous extension and new growth and CPI have nothing to do with that decision.
Fourth: If the county has an overall goal of cutting taxes 10% (is that off of last year’s $76.3 mil levy or this year’s $79+ mil levy?), then that goal REQUIRES you to abandon the concept of always taking new growth.
They are mutually exclusive.
Fifth: Our board at D-26, went through extensive machinations over the last 6 months to actually deliver a tax cut to our community.
It appears that the substantial tax increase approved by the county board has essentially wiped out all of the tax savings that would have otherwise been recognized by our families and seniors.
I’m going to make sure that I bring that message to our community.