A supporter of the Phoenix bonds gives some reasons why the bonds are bad
by Richard de Uriarte
Monday, Mar. 06, 2006 at 8:12 AM
A supporter of the bond issue gives some good reasons why bonds are bad!
Richard de Uriarte
Republic columnist
Mar. 6, 2006 12:00 AM
Let's be frank. The "No New Taxes" slogan by boosters of the Phoenix bond proposal is technically correct but very misleading.
There are no new taxes contemplated by city officials if voters approve any or all seven of the bond proposals on March 14. The existing tax will do just fine for them, thank you very much.
What's more, while it's accurate to say there will be no increase in the current combined primary and secondary property tax rate the city currently imposes, that doesn't mean taxes will stay the same.
In fact, they'll probably go up, especially in light of the stunning rise in property valuations, in which residential property values spiked much higher than commercial values did.
Indeed, the city, county and school districts might even be able to reduce the rate and still bring in more money. That's the way multiplication works.
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Reach de Uriarte at (602) 444-8912 or at richard.deuriarte@arizonarepublic.com via e-mail.
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