Has anyone ever crunched the numbers to see exactly how much capped property valuation is left sitting on the table? Ie, take the difference of property value and capped value of every address and add it all together to get a gross number of potentially taxable value? What would the percentage be compared to total currently taxable property? If it was all able to be included, how much could tax rates drop to still reach the current municipal budget? What tax rate would fund an 'ideal' budget?
So disappointing
Has anyone ever crunched the numbers to see exactly how much capped property valuation is left sitting on the table? Ie, take the difference of property value and capped value of every address and add it all together to get a gross number of potentially taxable value? What would the percentage be compared to total currently taxable property? If it was all able to be included, how much could tax rates drop to still reach the current municipal budget? What tax rate would fund an 'ideal' budget?
Its up to $23 billion or $180 million in revenue assuming no tax rate change
Not a panacea, but what, about 15% of the annual budget?