[RP TownTalk] Budget and taxation

[Dwight Holmes]

Thanks, Gerard. Interesting -- sounds like the reverse of the more
typical TIF (Tax Increment Financing) incentive where it's the tax on
the new value that's waived.

A half-full glass is better than an empty glass, I reckon.

On 5/16/07, Gerard Kiernan <gerardkiernan at earthlink.net> wrote:
> University of Maryland property as government owned property is tax exempt.
>
> When M-Square was first proposed, the land was to be privately owned and
> developed.  UMCP then decided to buy the land in order to accelerate the
> development.  The Town was, of course, worried about losing the revenue from
> the largest open industrial zoned piece of land inside the Beltway.
>
> The University decided that while the land would remain on the state's
> rolls, all of the buildings, including the World Weather Building, would be
> privately owned and leased to the tenants, including NOAA.
>
> Thus, the Town will receive property taxes on the value of the improvements,
> but not the land.
>
> Gerry Kiernan
>
> > From: "Dwight Holmes" <dwightrholmes at gmail.com>
> > Date: Wed, 16 May 2007 21:08:55 -0400
> > To: TownTalk <towntalk at riverdale-park.org>
> > Subject: Re: [RP TownTalk] Budget and taxation
> >
> > Question: Is university (public) property subject to town and county
> > property taxes?
> >
> > On 5/16/07, Rob Oppenheim <rob.oppenheim at comcast.net> wrote:
> >> We are now in a declining revenue period, so it is time to tighten
> >> up and reduce spending. Wait for an expanding revenue period
> >> (like when M-Square comes on line) to expand government.
> >
> > --
> > ~~
> > Map of Riverdale Park MD Trolley Hiker-Biker Trail and Cafritz Property
> > http://tinyurl.com/2wsfql
> > ~~
> > Tracking the Washington Nationals' 2007 season (will they catch the '62
> > Mets?):
> > http://tinyurl.com/2m6f43
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> > For more information about Riverdale Park, visit
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>
>


-- 
~~
Map of Riverdale Park MD Trolley Hiker-Biker Trail and Cafritz Property
http://tinyurl.com/2wsfql
~~
Tracking the Washington Nationals' 2007 season (will they catch the '62 Mets?):
http://tinyurl.com/2m6f43