Pueblog USa
Thursday, May 17, 2007
We’re ‘In’ the Money (Part 3)
Another ‘love-tap’ in the ongoing examination of the recent Property Tax Assessment.
Here is my [Sean McCarthy’s] response to Mr. Beltran’s personal attack:
In response to Mr. Beltran’s interview yesterday, I must say, “Thanks for supporting my argument.” I’ll admit I had to drop Calculus II in college, and settle for an Administration of Justice degree, so I’ll defer to Mr. Beltran’s superior math skills, but….
Though my illustration of the likely tax increase was not exact, it demonstrated my point, an average 10% tax increase for Puebloans. Mr. Beltran’s “calculus” demonstrated a nearly 10% increase as well, supporting one of the points of my essay. Puebloans are receiving, on average, a 10% tax increase (note: Mr. Beltran indicated some areas are seeing a 28% increase.) Gas, food, etc…is also going up a rapid clip…my article asks our local leaders to consider a freeze on the increased burden. I am not asking anything from the Assessor.
Secondly, I did not attack Mr. Beltran or the methodology he used…he executed his statute directive with keen efficiency. My argument here is that his data is not “market” representative of the last 12 months. He admits as much, when he stated that he used average prices from 2005 and 2006 to support an average valuation increase of 10%. My article recommends using existing, credible valuations from the private sector to provide a more timely valuation model. The last 12 months have shown a 10% drop in the median prices of homes in Pueblo…and the quarter over quarter and month over month sales by units analysis shows a drop of 18% and 20% respectively.
I believe this increase in taxes will exacerbate the weakening housing market locally…it will impact our economy in all consumer sectors…slowing new housing starts, automobile purchases, and visits to restaurants. Two weeks ago, the Pueblo Chieftain reported that city’s sales tax revenues are below their budget projections. I predict this will only continue to worsen, if we are not able to provide some breathing room for the average Puebloan.
As a taxpaying citizen, who is concerned about my community’s economic vitality, I call on our Commissioners, and legislators to use the same energy and tenacity they use to protect us against “Big Business,” and focus their resolve against the looming “Big Government.”
“Congratulations! You are a winner!” Andrew Romanoff, Speaker of the House, Colorado, commenting on 2007’s completed legislative session.
Hey Andy, what did I win?