Bartlett Express - Latest Comments

Re: MLGW answers meter, rate concerns

Ken Pruitt — Thu, 13 Jun 2013 13:45:03 -0000

This is more proof that this kind of stuff should be completely private.

Re: Tax rate lower than expected

Ken Pruitt — Wed, 12 Jun 2013 23:28:49 -0000

This idea that the city of Bartlett isn't going to pay more taxes due to the city merger is absurd. This article says that the property tax is going down from $1.67 to $1.62 per $100, and therefore, property taxes are going down. Here's the problem with that idea:

Let's say someone is living on a property worth $100,000, and let's assume the previously mentioned $1.67 per $100 as the tax. Arithmetic tells us then that the amount the person living on this property will owe the government $1,670 in taxes.

Now, suppose for some reason that this person's property value falls to $90,000. Now, assuming again a tax rate of $1.67 per $100, then this person will owe $1,503 in taxes. The general problem with government tax policy is this obsession for "Revenue Neutrality" on the part of public finance economists. In order to get at least the same amount of money out of this person, the tax rate must come up because the value of the property came down. So, in order to get at least $1,670 from this person, the tax rate must come up from the original $1.67 per $100 to no less than $1.86 per $100.

But, you might say, "The article is clearly stating that the tax increase was only temporary due to the property values in Shelby County dropping! The tax rate is coming back down!" Now, here's the problem with that idea:

Let's assume again that the property our hypothetical person is living in is again worth $100,000 and the tax rate dropped down to the previously mentioned $1.62 per $100. Arithmetic tells us that this person now owes $1,620 to the government. Before I go any further, let me point out to you that when you're talking about $1,600+, $50 is all but negligible in terms of being called a tax break. I suppose this person is expected to get down on his hands and knees and thank his government overlords for this bountiful reward which they have presented to him for his hard work!

The picture becomes even more absurd when we lower the value of the property from $100,000 to $50,000. In this case, assuming a tax rate of $1.67 per $100, the person who's living at this $50,000 now owes $835 in taxes, but at $1.62 per $100, he owes $810 in taxes. I'm sure this person will be overflowing with joy at this massive $25 reduction in his $800+ tax!

But, the absurdity of this truly being a tax break aside, the real problem with this idea that taxes are going down because the tax rate itself is going down presumes that the properties won't be appraised at a higher value. Let me demonstrate;

If you will recall from our earlier demonstration, the person paying for a $100,000 property at a tax rate of $1.67 per $100 owes $1,670 on the property, while at a tax rate of $1.62 per $100, he will be paying $1,620 in taxes. Again, the obsession with "Revenue Neutrality" on the part of public finance economists comes in. So, how can they get the same amount of money from this person even though the tax rate went down (albeit by a meager amount)? Simple! They re-appraise your property!

At $100,000, assuming a tax rate of $1.62 per $100, he will pay $1,620 in taxes, but if his property is re-appraised at $104,000, then assuming the same tax rate, he will pay $1,684.80 in taxes. By doing this, they can simply say, "Look, we didn't increase your taxes! This is just what your property's worth!"

Don't be gullible enough to think that you're actually getting a tax break here just because the official tax rate went down. Not only will they re-appraise the properties to get more tax revenue, but it can be safely assumed that our big government overlords have some revenue-increasing shenanigans hidden up their sleeve.

Re: MLGW answers meter, rate concerns

Guest — Fri, 24 May 2013 08:05:49 -0000

Mlgw is going to borrow 215 million dollars to pay for these meters, and that is just an estimate. Watch it cost more and watch your rates go way up.

Re: MLGW answers meter, rate concerns

Cordova friend — Thu, 23 May 2013 22:43:28 -0000

These smart meters really have me worried. I've searched info about fires, about hacking, about higher bills. California has had an awful time with these meters. I don't want one!

Re: Glad to be back writing for Bartlett

annonymous — Fri, 10 May 2013 12:16:40 -0000

Decent but I've seen way better from you... pick it up man

Re: Suburbs plan for schools

David Reaves — Thu, 18 Apr 2013 17:11:19 -0000

Well done article..

Re: Bartlett man nets fishing program

Dennis Smith — Thu, 18 Apr 2013 16:31:51 -0000

Very good article and thanks Matt. We can take you fishing anytime. Thanks

Re: Tandy Leather moves after 55 years in Midtown

Jo Keith — Wed, 06 Mar 2013 21:16:11 -0000

We teach classes almost every Saturday. Usually the first two Saturdays are devoted to the Basics of Carving.

Re: Taking dad down

Donna Cook Turnage — Wed, 30 Jan 2013 20:13:47 -0000

Haha Dustin! If Jacob is already getting you down now, you better look out. :-D

Re: Taking dad down

KathyMC — Wed, 30 Jan 2013 17:39:52 -0000

That's my sweet nephew. He's such a good dad.

Re: Troup graduates from AF training

LisaR — Sun, 23 Dec 2012 20:56:43 -0000

Congrats hun!!!!

Re: Troup graduates from AF training

Robert — Sun, 23 Dec 2012 09:31:57 -0000

That guy is hardcore...

Re: Troup graduates from AF training

Chad — Sun, 23 Dec 2012 04:02:50 -0000

lul

Re: Mays rules against municipal school districts in 2013

Jason Sykes — Sun, 09 Dec 2012 00:39:28 -0000

"We don't surrender"

Re: Mays rules against municipal school districts in 2013

Pamela — Tue, 04 Dec 2012 17:23:07 -0000

Sad, The private schools are in for a boon next year in enrollment and all the counties bordering Shelby county will increase in population. Just saying!

Re: Mays rules against municipal school districts in 2013

Chris — Tue, 04 Dec 2012 17:04:02 -0000

We have not yet begun to fight!

Re: Lt. Rory Mack retires after 35 years

Jason Sykes — Tue, 04 Dec 2012 15:49:56 -0000

Lt. Mack was a great public servant. He will be missed.

Re: Bartlett School Board Candidates

journal_julie — Thu, 08 Nov 2012 15:54:53 -0000

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