Why eminent domain will be the next big thing in local politics. Local=municipal, county, township.
Property taxes-----public hates them. Because? They get them in the mail, they have to actually write a check for them unlike federal and state income taxes which are usually withheld from pay so they aren't as noticeable.
Local public officials----elected by the public. So? They have to find a way to keep their services without raising taxes. The public likes their roads pothole free and their schools good.
Developers---wooed by public officials. Why? 2 reasons mainly. 1. New business means additional sales and property taxes with which to pay for services. 2. It is good for the resume, the public likes to shop, and a bit of campaign help in order to be re-elected.
TIF incentives---developers' feed bag. Huh? TIF incentives negate the addtional sales and property taxes because developers will end up with a 20 or so year deal in which they do not have to pay the increase in valuation on their property. They pay only what taxes were in effect at the time they purchased the ground. Plus a break on what sales tax is returned to the local government.
Public officials---stuck. How come? They have to justify not having developers pay their fair share of taxes while the public waits to see if their property taxes will go down as promised when the economic development plans were presented.
Supreme Court---developers---local officials---public---Who loses? The public. Now the developers have a new weapon thanks to the latest Supreme Court ruling allowing eminent domain of private property for economic purposes. Who wins? Not the public.
It is one of the worst results I can imagine. The village board of Lake Zurich is condemning lake front property to allow a developer to build multi-story housing.
How unfair!
Posted by: cal skinner | June 23, 2005 at 08:46 PM