One way or another the taxpayers will end up shouldering the burden for this. Its our own fault for keeping Gene Fisher in office for 20 years.
I’d rather see it done through a sales tax as opposed to increased property taxes. That way, at least money from Snowbirds and Weekenders will help pay for it, and the whole burden won’t go to property owners.
The interest on the debt is about $1,000,000 per year. That’s about $2770 per DAY. How long will this take to pay-off? Is this like a bad credit card deal – using one credit card to make the minimum payment on another, and never being able to pay off either debt?
A bond to pay off a debt is not the same as an investment bond. The bonds mentioned in the press cannot be considered investment grade bonds when the purpose is not an investment, but instead to pay off debt.
Where is the collateral? Is it the faith and good credit of the residents, backed by their property interests? What if the business owners refuse and challenge the new State law? Did the State become a guarantor by passing this legislation?
How can a bond investor, after due diligence, invest in a sales tax scheme without a tangible property interest to attach? Investors do not enjoy the same authorities as governing bodies.
The County does not print its own money — so there is a limit to the investor’s ability to hedge his investment other than perhaps an insurance derivative.
Property owners and merchant tax-collectors deserve some transparency and answers here, in my opinion. I could be wrong. I apologize if so.
At what point do the citizens start scrutinizing budgets of taxing districts? Spending continues to increase in our “small” communities without any population growth and a weak economy. At what point does the average Joe/Jane citizen start questioning budgets, going to meetings, even scanning Agendas and Minutes for our taxing authorities? After all the squeaky wheel gets the grease, if you don’t speak up, those people that you elect just assume that their interests are yours. Are they?
Who Cares? Really. Does anyone but a select few even care what the County does? Apparently not. Thats why we are here today. When you speak out in this County against the Status-Quo, you are immediately labled a heritic and publicly attacked. Why would anyone speak up. Seems that all the nay sayers from the last few years were right all along. I remember Jerry McGuire standing on the corner of Agency and Mohave telling people the sky was falling. He was RIGHT. And it fell. And here we are. Now the State has given our supervisors, without consent of the governed, the ability to raise taxes 10% right away and 20% more in 2013. At that point the Town will have a sales tax rate of 11.88%. Thats $4752.00 on a $40,000 car at Parker Motor Company. See how long they stay in business when the supervisors put the Gene Fisher tax on the backs of the tax payers. This will make Parker the home of the highest sales tax in the SOUTHWESTERN U.S.! I guess this is what the new supervisors meant when they said they would negociate with Yakima. Way to go supervisors, you got Yakima right where you want him!! Sad.
Parker Live News from the Parker Strip since 2009.
Would that mean that CRIT would also help pay this off since it was their supervisor that helped creat this tax increase?
Just wishful thinking
One way or another the taxpayers will end up shouldering the burden for this. Its our own fault for keeping Gene Fisher in office for 20 years.
I’d rather see it done through a sales tax as opposed to increased property taxes. That way, at least money from Snowbirds and Weekenders will help pay for it, and the whole burden won’t go to property owners.
Ultimately, property owners will bear the burden.
The interest on the debt is about $1,000,000 per year. That’s about $2770 per DAY. How long will this take to pay-off? Is this like a bad credit card deal – using one credit card to make the minimum payment on another, and never being able to pay off either debt?
A bond to pay off a debt is not the same as an investment bond. The bonds mentioned in the press cannot be considered investment grade bonds when the purpose is not an investment, but instead to pay off debt.
Where is the collateral? Is it the faith and good credit of the residents, backed by their property interests? What if the business owners refuse and challenge the new State law? Did the State become a guarantor by passing this legislation?
How can a bond investor, after due diligence, invest in a sales tax scheme without a tangible property interest to attach? Investors do not enjoy the same authorities as governing bodies.
The County does not print its own money — so there is a limit to the investor’s ability to hedge his investment other than perhaps an insurance derivative.
Property owners and merchant tax-collectors deserve some transparency and answers here, in my opinion. I could be wrong. I apologize if so.
At what point do the citizens start scrutinizing budgets of taxing districts? Spending continues to increase in our “small” communities without any population growth and a weak economy. At what point does the average Joe/Jane citizen start questioning budgets, going to meetings, even scanning Agendas and Minutes for our taxing authorities? After all the squeaky wheel gets the grease, if you don’t speak up, those people that you elect just assume that their interests are yours. Are they?
Who Cares? Really. Does anyone but a select few even care what the County does? Apparently not. Thats why we are here today. When you speak out in this County against the Status-Quo, you are immediately labled a heritic and publicly attacked. Why would anyone speak up. Seems that all the nay sayers from the last few years were right all along. I remember Jerry McGuire standing on the corner of Agency and Mohave telling people the sky was falling. He was RIGHT. And it fell. And here we are. Now the State has given our supervisors, without consent of the governed, the ability to raise taxes 10% right away and 20% more in 2013. At that point the Town will have a sales tax rate of 11.88%. Thats $4752.00 on a $40,000 car at Parker Motor Company. See how long they stay in business when the supervisors put the Gene Fisher tax on the backs of the tax payers. This will make Parker the home of the highest sales tax in the SOUTHWESTERN U.S.! I guess this is what the new supervisors meant when they said they would negociate with Yakima. Way to go supervisors, you got Yakima right where you want him!! Sad.