Worcester homeowners are getting a 9.6% tax increase

DIF Revenues

 At the WRA meeting they detail all the expenses.    

One would think that they would want to know the revenues coming from the DIF to ascertain the profitability of the project?

There is no mention of DIF revenues??????





When you think about it other than parking revenue and the lease of the parking garage (has that happened yet) and ballpark, what other revenues can be in the DIF.    

Remember only increases in real estate taxes can go into the DIF.   Considering Polar Park and the Parking Garage will pay no real estate taxes, we doubt there have been any increases in real estate tax revenues in the DIF.     

In fact we may even have a decrease when you consider buidlings being demolished and parcels going from commercial to residential rates.....   

Comments

Anonymous said…
If the DIF District generates less taxes than it did before the project started do we get an IOU?
Anonymous said…
Did you see the reports that the first building being built is not meeting it's requirements of the tax reduction. Behind schedule and not compliant, not a good start.
Anonymous said…
There is an article in the Telegram from Ray Mariano on the project and reducing the tax reduction. The City needs leadership like this.