Friday, September 28, 2007

Abracadabra: vanishing tax $

Frat Row Then: (when privately owned)
Total amount property tax paid Amherst in FY07: $32,309.44

Frat Row Now: (Publicly owned by Umass)
Property tax Amount will pay in FY08 and the rest of eternity: $00

Stick THAT up your "strategic agreement."


Stephanie O'Keeffe said...

While this is true, it's not as though it's anyone's "fault." The properties were on the market for a long time. No one wanted them. UMass did.

And while they are no longer paying property taxes, they are also no longer consuming municipal services (or as close to none as possible.) It would be interesting to know what the net was on taxes from the five houses, once the cost of their police and fire calls were subtracted.

If and when UMass builds something new there, that will change the equation. Maybe that will be in the next version of the Strategic Partnership Agreement.

LarryK4 said...

Yeah, after 25 years I just can't wait for the next "Strategic Partnership..." (Because the last 2 or 3 really stink)

Don't ya think, just maybe, that the twits who increased the drain on municipal services from Frat Row simply moved to Hobart Lane or Townhouse Apartments?

Yes, if Umass builds something academic there then fine, but if they just leave it vacant...

Just as Amherst College should be tagged with considerable taxes for buying the Dakin Estate on South Pleasant Street for $4.3 million two years ago and have done squat with it since.