WBJ Brad Kane In This Issue: Extra Scrutiny for Polar Park

153 Green Street

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.







Comments

Anonymous said…
Does this development have a tax reduction deal with the City like the Mt Carmel development?