The land (for the water park deal) that the city is trading so that it can give it away for $1,000 per year with a $10,000 buy out was formerly owned privately and was taxed around 54 thousand dollars a year by the city, $29 thousand a year by the county, $98 thousand a year by the Canutillo independent school district, $9,000 a year by our community college and $16,307 yearly by our county hospital. The total comes to $188 thousand each year.
Now that the city owns the land those taxes go away.
If the land is actually worth the $18.6 million that we are told the owner wants the tax situation would be different. The annual taxes would be $597,686.00.
Because the city has assumed ownership of the land, and thus the land cannot be assessed property taxes, the other entities are going to lose money also.
Using the claimed $18.6 million figure the Canutillo district will lose $284,580 per year for the ten years that the city will own the land.
The city tells us that homeowners pay a disproportionate part of the property tax (compared to businesses and industries) and then go right ahead and throw away a piece of property that would pay almost $600,000 a year.
We deserve better