There is a lot of false information going around about how high your overall tax rate will be. We will show you exactly what they will be.
Did you know that Lakeland is the ONLY local city that has no limit on debt? Read here to see how the other communities limit their debt to protect the citizens from financial disaster and how our Board of Commissioners is violating all the rules. Click Read More below for more details.
The Pro-Build-Now group have made many statements regarding the tax issues surrounding this bond proposal. Here we review them and provide factual counterpoints that come to a different conclusion. The difference is we use hard data and show our reference materials where they just ask you to trust them.
Recently, the proponents of this massive bond have started saying we have plenty of 'cash reserves' that prove we can afford it.
Get the real story and to see how this is just more disinformation from the 'Yes' camp! By clicking Read More below.
Read here to see that the City really doesn't have enough revenues to finance this $50,000,000 bond even with the new tax increase! How many new houses will it take to pay for this? How many new stores like Sprouts?
We have been assured that we can afford the bond, but we've shown this is not true. We have also been told we can have all the amenities at Lakeland Prep that we currently enjoy with Arlington schools. Nobody has shown how much it will cost to have it all, so we decided to see how much it costs the schools they use as examples for what we will be.
Why E McKenzie will be voting NO... Click Read more...
Remember last year when we were told that if the bond were defeated, the tax increase would be repealed? Now they've changed their tune and are saying the tax increase is here to stay. That's not the only thing they changed... Read to see how the Board of Commissioners is refusing to listen to the will of the people!
General Obligation Debt, the kind of debt used to pay for large projects like school road projects, is guaranteed ONLY by the government's ability to raise your taxes. Under TN law, we are not allowed to have any vote on raising our property taxes! So any General Obligation Debt the City takes on is married to our Property Taxes, for Better or for Worse. The simple way to think about it is:
General Obligation Debt = Property Taxes
Lakeland is the only city in Shelby County that has NO LIMITS on General Obligation Debt. With NO LIMITS on the amount of debt the BOC can issue and this debt tied directly to our Property Taxes, Lakeland taxpayers have no safety net. If we implement reasonable limits on the amount of debt the BOC can issue, we can protect ourselves from endless debt-driven tax increases. Please read and use our link to email the BOC demanding sensible Debt Limits here in Lakeland!
It certainly is hard to keep up with everything our Board of Commissioners and Lakeland School Board has to say to us these days! We understand, so we have compiled a list of things they said to get elected and kept saying until Spring of 2014. Remember, they were asking for your vote and support then...