During these past month’s Mayor Steve Larson has been doing his "dog and pony" show at neighborhood meetings and at meet the candidates forums. When the question is raised as to possible property tax increases as these taxes relate to the debt load of the Northwest Quadrant Development Project, his response to the citizens is that with the special legislation New Brighton has received for the pooling of our funds from three profitable TIF Districts, we will have our debt service on the bonds covered until the year 2025 and therefore we will not have any increases in property taxes.
What Mayor Larson has failed to disclose are the assumptions that would have to be made for this statement to have any validity or any degree of accuracy.
These assumptions are as follows:
- The tax rate for the City of New Brighton would have to stay the same and not increase through the year 2025.
- The market valuation for the commercial property in the three profitable TIF Districts would have to remain the same or increase until the year 2025.
- The City of New Brighton would have to spend NO NEW DOLLARS on the Northwest Quadrant Development Project through the year 2025.
Dennis M. Flahave
New Brighton Resident
