Re: 2017 Reval ~ Property Inspections
Posted by Erica on 2017/5/19 9:05:32
In fairness to 135jc, his/her logic is correct even though Brewster and others are also correct that (for example) Greenville residents are overpaying while Downtown residents are underpaying as a percentage of their homes' values (generally speaking).
I think what got lost is that 135jc was making a different point about the total value of all homes in the different neighborhoods and the total value of taxes paid - not as a percentage but simply as a whole number.
Basically, Downtown homes can be paying less than their fair share of taxes and Greenville homes can be paying more than their fair share of taxes in percentage terms, yet the absolute amount of money collected Downtown can still be greater than that collected in Greenville. (Both can be simultaneously true.)
I have no idea if 135jc's point is backed up by numbers b/c I don't know the total property taxes paid by non-Downtown residents vs Downtown residents. But, to use completely made-up numbers just to clarify the point, if Greenville property taxes total $400,000 (all homes in Greenville are really worth a total of $10M and are paying effective tax rates of 4%) and Downtown property taxes total $1M (all homes in Downtown are really worth $100M and are paying effective tax rates of 1%) then Downtown homes contribute more to the tax base than Greenville homes do *in absolute terms* since $1M > $400,000. Again, this doesn't negate the point that Greenville residents in this scenario are [unfairly] paying 4x more than Downtown residents, *as a share of home value*.
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