Monday, April 14, 2008

More TIF Taxpayer Ripoffs in Knoxville

How would you like to build a House and then, instead of having to pay property taxes, you take that money and use it to pay off your mortgage? Pretty sweet deal...eh? Thats the deal that many commercial real estate developers are getting in Knox County.

And to add insult to injury the geniuses that are handing out these special favors admit they don't even understand the process.

Link
"We were not really prepared in our full understanding," said the county's IDB chairwoman, Suzanne Schriver, referring to the previous two TIF requests the board approved prior to adopting a formal set of policies and procedures in June. "All these questions started coming up, and we really needed to go to school on TIFs."