The Barnstable Town Council voted against the full split tax rate last year.
Indiana based Simon Corporation owns close to 200 shopping malls in U.S.A., and eleven in Massachusetts.
The same anchor tenants lease space in all eleven Massachusetts malls.
Simon’s Cape Cod Mall is assessed at
$107 million,
and in 2006 the store paid Barnstable property taxes of;
$699,780
based on the town commercial tax rate of $6.54.
Janet, Janice, Hank, Jim C, Jim M, Gary, and Harold know that whatever product they purchase in Barnstable, they will pay more than they would in off-Cape communities.
Based on the level of property taxes in other cities that Simon owns malls, the price of goods should be much lower in Barnstable because here the mall's property taxes are significantly lower.
Listed below are Simon’s other malls in Massachusetts including,
the city in which they are located,
the commercial property tax rate, and
the property taxes that would be paid in 2006
if the mall in those cities was assessed at the value of the Cape Cod Mall, $107 million.
| Wrentham Premium Outlets | ||
| Wrentham $10.76 | $1,151,320 | |
| Auburn Mall | ||
| Auburn $21.60 | $2,311,200 | |
| Greendale Mall | ||
| Worcester $25.20 | $2,696,400 | |
| Arsenal Mall | ||
| Watertown $20.36 | $2,177,450 | |
| Copely Plaza Mall | ||
| Boston $30.70 | $3,284,900 | |
| Solomon Pond Mall | ||
| Marlborough $23.95 | $2,562,650 | |
| Chestnut Hill Mall | ||
| Newton $17.72 | $1,896,040 | |
| South Shore Plaza | ||
| Braintree $19.17 | $2,051,190 | |
| Square One Mall | ||
| Saugus $19.66 | $2,114,320 | |
| North Shore Mall | ||
| Peabody $16.06 | $1,718,420 | |
| Cape Cod Mall | ||
| Barnstable $6.54 | $699,780 |
Listed below is how much more property taxes Simon would have paid for his off-Cape malls than he did in Barnstable assuming all his malls were assessed at $107 million;
| Wrentham | $451,540 | |
| Auburn | $1,611,420 | |
| Worcester | $1,996,620 | |
| Watertown | $1,477,670 | |
| Boston | $2,585,120 | |
| Marlborough | $1,862,870 | |
| Newton | $1,196,260 | |
| Braintree | $1,351,410 | |
| Saugus | $1,414,540 | |
| Peabody | $1,018,640 |
I wonder if Janet and Janice know that the DIFFERENCE between Simon's Barnstable's property taxes to his comparative taxes in Boston would pay the cumulative property taxes of;
- 2,048 homes in Barnstable assessed at
- $300,000 each.
Janet should also know that 2,048 homes is 10% of the total single family homes in Barnstable.
Janet was elected because of her efforts to get more school aid to Barnstable.
Janet knows the Legislature will not give one red cent more to Barnstable until the Town Council adopts the two tax relief measures already on the books; the Residential Exemption and the full 1.5 to 1 commercial tax rate.
Janet also knows that Barnstable’s state senator Therese Murray will become President of the Senate in the Massachusetts legislature, the most powerful position on Beacon Hill, including the Governor.
If Janet and the Council vote against the maximum tax shift, they will effectively tell Therese, the Senate, and the House of Representatives, that Barnstable refuses to exert the same property tax effort as other cities.
The failure of the Council to adopt the full tax shift would be the equivalent of telling the Legislature that Barnstable taxpayers have plenty of money with which to educate their kids.
On the eve of the new education finance formula, not even Therese will be able to help.
It would be ironic that the one person who claims to be working hardest for more state school aid, is also the same person whose actions are responsible for no extra money coming our way.
Lastly, should Janet and the gang vote for no split tax rate, in 2007 Simon's Cape Cod Mall will pay;
$595,980 in property taxes, or
$103,790 less than it did in F/Y06,
a 15% CUT in property taxes,
because Simon's property values remained fixed from F/Y06 - F/Y07
while the commercial tax rate would drop $.97 from;
$6.54,
to
$5.57.
In 2004, a year after the Cape Cod Mall sold for $159 million [$107 million in cash, and $59 million in debt from mall expansion expenses], the Mall's assessed valuation remained at $80 million, its 2003 assessed value.
The tax rate dropped from
- $9.40 to
- $6.61,
and the mall's town property tax bill dropped from
- $752,000 to
- $528,200,
a single year tax cut of
- $223,200, or
- a 30% tax cut.
How much did your property taxes increase in 2004?
If you invested $150K to legally double the square footage of your home, would you expect its assessed value to increase by $150K?
Therein lies the difference between residential and commercial properties.
Commercial properties are assessed using data other than cash or market value.
The Barnstable Councilors, who opposed the split tax rate last year, are depicted through their photographs with the exception of Jim Munafo.
Watch the procedings carefully tomorrow night.
Pay attention to individual councilor justifications for their opposition to giving their constituents property tax equity.
See if you feel their votes were bought and paid for prior to the meeting by national, and international corporations.
Local business owners would get a bigger tax cut on their million dollar homes than they would pay in additional business property taxes.
When Janet says her district is rife with local business owners who can't afford to pay more business property taxes, it doesn't make sense because the businessman's home property taxes will automatically drop along with the business increase.
Not approving the split tax rate is about protecting out of town business owners.
If Falmouth suspended the policeman for a "verbal altercation" with another officer, why isn't Mosby suspended for threatening to commit murder?
February 14, 2007
Cape Cod News Briefs
CAPE COD TIMES
FALMOUTH
Decision awaited
on police sergeant
The fate of Falmouth Police Sgt. Paul Driscoll will be decided in the next two weeks.
Driscoll has been out of work on paid administrative leave for months, following a verbal altercation between Driscoll and police brass in July. A hearing officer heard a day's worth of testimony at a disciplinary hearing on the issue last week.
Driscoll testified that he just wanted to return to a job he loved. Town Administrator Robert Whritenour said Monday Driscoll may be terminated, demoted or given some other kind of punishment.
Posted by: | February 14, 2007 at 08:57 AM
Gary GREAT POST!!!
I hope the town council votes for the1.5 this time. They should realize US the RESIDENTIAL/TAX-
PAYERS/VOTERS are the people in Barnstable that are getting SCREWED.
I just drove down Main Street in Hyannis, that street there is NO ICE ON IT. My street and many other streets in my area and in the town of Barnstable have not had a SANDER or any type of a
truck come down their street to melt the ice off the street.
There was a SENIOR CITIZEN walking on Skunknet Road in Centerville she SLIPPED and a BAD FALL because of the ice on Skunknet Road. YET Main Street is clear.
As I have said before the RESIDENTS in BARNSTABLE get NOTHING from this TOWN, and the BUSINESS PEOPLE pay very little TAXES and THEY GET EVERYTHING.
Mark Milne Barnstable`s finance director has said many times, the town of Barnstable needs the VOTERS/Residents/Taxpayers to PASS A YES VOTE for 2-1/2 Overrides.
I URGE ALL RESIDENTS/VOTERS/TAXPAYERS TO "VOTE-NO" FOR ANY AND ALL FUTURE 2-1/2 OVERRIDES THIS ADMINISTRATION SENDS TOO US THE VOTERS.
WE THE RESIDENTS/VOTERS/TAXPAYERS ARE TREATED AS SECOND CLASS CITIZENS IN THIS CORRUPT TOWN OF BARNSTABLE.
Posted by: Jim Walsh | February 14, 2007 at 12:08 PM
If every $1 on the tax rate equals $15 million in property taxes, and the schools need $60 million, and the state only gives $6 million in school aid, the school’s will need $3.80 of the $5.57 or 68% of the tax rate.
It seems to me that unless the municipal side of government is willing to work for less and less each year, Joakim had better do something about setting Barnstable’s tax policies to conform with other cities and towns in the state.
The piper is right around the corner waiting to be paid.
Posted by: Peg from Hannis | February 14, 2007 at 02:32 PM
WKTK radio would not talk about Mosby the other day.
The cape cod times won't talk about Mosby...or the law suits against the the Barnstable airport...Boy they are all in bed together. What type of liability can the town be in for???For not getting rid of this pathetic individual.
Posted by: | February 14, 2007 at 08:12 PM
My next post is about airports paying off cities and towns on the condition they don't sue.
Boston and Los Angeles's LAX are two examples. Both cities paid $550 million to people to look the other way.
Yarmouth has retained an attorney, and may sue.
Posted by: Gary Lopez | February 14, 2007 at 08:33 PM
Good investigating Gary. This council must vote the 1.5 split given the shortfalls they keep yattering about, i.e. roads, schools. I think Jokem is hoping for Murray's new post. She's arrogant enough to believe then she will get the money. She's been the supposed chair for the liasion committee with the schools over the last year and hasn't called one meeting. She is a censor and a snake.
If they don't vote no on the proposed raises, they are morally bankrupt. Town employees get 2.5 to 3 percent; they had the gall to come out with the 240% one for themselves.
Yarmouth has been retaining an attorney for a year. They caved to the airport commission and the Cape Cod commission because they want the airport. It's all about money and they won't sue. I'm sick to death of the wussy politicians on the spit of land. They all pander to the money.
Posted by: | February 15, 2007 at 11:08 AM
Tonight we find out if we are truly a democracy!
The people spoke at the poles by voting yes for the split rate.
If the Town Council votes to takes away from us what we told them we want, well, then Barnstable is not a Democracy.Barnstable will clearly be a communist led city.
Maybe they could make a deal with Fidel and sell Cuban Cigars for a fund raiser!
Posted by: LEGHOLD | February 15, 2007 at 05:22 PM
I am no fan of Simon but arent your calculations failing to recognize the 3.50 for Hyannis FD?? Why not look at the Town departments themselves. How about the PD (Barnstables PIGS!!!) Each one making almost 100,000.00. What is the average salary of a barnstable resident 40K?? FLAG MEN anyone??
Posted by: I LUV'D BARNSTABLE BUT IT DONT LUV ME | February 15, 2007 at 08:26 PM