Appraised at $5,450,500
Pays annual taxes close to $190,000 based on a commercial rate of 36 per thousand
Now when these are turned into apartments
Lets just assume the assessed value is $10,000,000
Annual taxes will be $160,000 based on a residential tax rate of 16 per thousand
In this case it will contribute nothing towards the DIF
Editor's Note:
Boston Capital, the developer of the Table Talk project, has yet to take title to the land..... This development will take years and years to produce a net gain in taxes to help pay the bonds.
This will take years to get online and we do not see this development producing much money in the ballpark DIF.
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