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Old 06-16-2012, 09:20 AM
 
5 posts, read 5,136 times
Reputation: 10

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Just guestimates here:

Assuming that the property taxes of this $315 million mall will be:

approximately $3,500,000 annually

and sales taxes collected would be:

approximately $7,000,000 annually


So with over $10 million collected annually how specifically would this benefit the people of Sarasota and/or Florida?

Are we talking about an average property tax reduction of $100+ dollars for Sarasota County residents?

How will this project affect residents financially if at all?
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Old 06-16-2012, 12:19 PM
 
Location: Sarasota FL
6,864 posts, read 10,918,662 times
Reputation: 6672
Taxes you pay on your real estate are based on the appraised value as determined by the property appraiser. The only way taxes would be reduced is if the millage rate is reduced by the authority that collects taxes. It's like the County Admin telling us to use less water. We do, but to make up for the lost revenue, the use per 1000 gal fee is increased. So you pay more to use less.
Any new development that produces a big tax bill is just more money for them to spend. You know, like a $12 million walking path or $3.2 million to convert a functioning intersection to a 'roundabout'.

Last edited by d4g4m; 06-16-2012 at 01:26 PM..
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Old 06-16-2012, 12:38 PM
 
5 posts, read 5,136 times
Reputation: 10
Perhaps if the County has an excess- the millage rate can be reduced.

Besides that what would be the best possible $10 million project for Sarasota?

How much is the revamp of Siesta Key Public Beach facilities/parking?
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Old 06-16-2012, 03:02 PM
 
Location: sarasota
1,089 posts, read 1,526,594 times
Reputation: 1174
dream on. somewhere in there is probably a tax rebate for the developer that would wipe out most of their tax bill. And I don't see where an increase in tax revenues from one source has to naturally translate to a tax reduction elsewhere. Do we never see the need for increased revenue? get serious
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Old 06-17-2012, 12:45 PM
 
Location: Jersey Shore
831 posts, read 2,290,784 times
Reputation: 300
Its funny because before I left Sarasota stores were closing down left and right. If they are building a new Mall and can't find companies to fill the spaces who is going to be left holding the bag???
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Old 06-20-2012, 05:36 AM
 
Location: Sarasota, Florida
807 posts, read 3,010,195 times
Reputation: 706
Quote:
Originally Posted by JesusLivesWithin View Post
Just guestimates here:

Assuming that the property taxes of this $315 million mall will be:

approximately $3,500,000 annually

and sales taxes collected would be:

approximately $7,000,000 annually


So with over $10 million collected annually how specifically would this benefit the people of Sarasota and/or Florida?

Are we talking about an average property tax reduction of $100+ dollars for Sarasota County residents?

How will this project affect residents financially if at all?
You're kidding, right?
This project would bring construction jobs to the area for about 2 years and raise property values in the immediate area. But if you're suggesting that any additional tax revenue would be used to the benefit of local property owners, that's just fantasy.
I'm still seething about the sales job for the Florida Lottery and how all the money would be put into the education budget. When the money came in, the dirty bastages rerouted the regular funds elsewhere.
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Old 06-22-2012, 04:11 PM
 
Location: Where the sun always shines..
1,938 posts, read 5,942,078 times
Reputation: 822
Quote:
Originally Posted by dmccauley View Post
Its funny because before I left Sarasota stores were closing down left and right. If they are building a new Mall and can't find companies to fill the spaces who is going to be left holding the bag???
From what I have heard and read, they only have a few spot available for lease as the rest have been taken. Sounds like some pretty. If name places are going in there also. I'd hate to lose faith in anything by Benderson, especially in this area during a time when we need this sort of thing to take off. However, well have to keep our eye on it to be sure!
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