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20th March 2008

TADs – For or Against?

Well, since TADs are going to be a big topic going forward for the next few months, we thought that should be the latest community poll.

We want to know if you’re for or against the use of Tax Allocation Districts in the Smyrna Vinings area. As we’ve mentioned before TADs allow cities to issue bonds for redevelopment work which will be paid by the incremental property taxes created after the project is redeveloped.

In February, the Georgia Supreme Court ruled that it was a violation of the Georgia constitution to use school taxes (which make up a large portion of property taxes) in TADs. There are several groups now working to create a referendum on the November ballot so you the voter can choose whether to change this law.

To learn more about TADs, check out the recent post on the TAD Resource Center.

In Smyrna, the use of TADs will have a large impact on the Jonquil Village project and the upcoming Belmont Hills project.

So what we’d like to know is if you are for, against, undecided or still don’t know what a TAD is.

So cast your vote on the Poll located on the left sidebar.

Technorati Tags: Smyrna Vinings Redevelopment, TADs, Tax Allocation Districts, Jonquil Village, Belmont Hills

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This entry was posted on Thursday, March 20th, 2008 at 9:17 am and is filed under Government Services, Smyrna Vinings Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 On April 14th, 2008, netdragon said:

I am in favor of using TAD for capital improvements. However, I think strict control should be put over school funds being re-allocated for other projects and their should be a lot of analysis done in each case. Otherwise, a different tax should be levied by the community if it considers that project beneficial. Schools since schools are also a very important part of raising land value and special programs in schools will make the schools more attractive for people, and thus draw people to move to the area.

2 On April 14th, 2008, netdragon said:

To clarify, the main thing is that I think that there should be a very critical analysis over expected future tax dollars (conservative estimates) and public good for a project and then whether that funding is available or needed by schools. From that, there should be a costs-benefits analysis. Schools getting hit in the checkbook could hurt land value badly, so there should be some major controls to prevent abuse. At the same time, schools should also not have the only say.

3 On April 15th, 2008, Aaron Hofmann said:

I think that there is clearly substantial analysis of each TAD project, but in every analysis there are obviously going to be significant assumptions to be made. The school board doesn’t have the only say, but they have the final say, which essentially treats them as the president who can veto a project even if every other body voting on it agrees to the project.