I use to think the property tax situation here in South Bend was a circus. I was wrong. It is a magic show tucked into a giant gambling entertainment complex. I might even just call it a ponzi scheme.
The paired problem: Our leaders love to spend other people’s money. The city burns through $1 million dollars every day. The money must come from somewhere. And all of the economic impact that we publicize and print, does not pay real estate property taxes. Nor does the immense nonprofit property ownership here in Portage Township. Don’t pick on out of town investors. We need them. They have few if any property exemptions.
Now some of the secrets: Grants, tax sales, TIF, tax abatements, incorrect tax assessments, delayed accounting, special rules from the state, and the newest one: opportunity zones. This huge 10 year capital gains tax shelter starts at the doorstep of Eddy Street Commons, and goes about as west as Portage Avenue. Unfortunately, not exactly the areas that need incentives. But nonetheless I’ll keep watching the show. I’m fairly certain there’s more tricks to be found, because a good magician never reveals their secret.
On behalf of the Papasan-Mamasan Korean Veterans Association, I would like to thank the many businesses that contributed to our annual Christmas party. Because of their generosity it was a great success. We can’t thank them enough.
Two opinions from Dec. 22 should have a few comments.
First the liberal opinion by Tom Nowak, a name that I recognize as a regular writer who sends in the articles almost monthly. He is an excellent writer and I can appreciate how it starts out, like the writer has no political affiliation, bringing up such things as nuclear war and climate change. Climate change quickly becomes global warming, followed by many statements stated as truth when they are only speculation and liberal rhetoric. I count 10 of his statements that are actually not true but have become talking points by only one political party. So please, if a writer is going to throw this stuff out there, how about something to back up their so-called facts?
The other opinion on the same day is from Jim Brown, (conservative). He is simply wishing those, (with views similar to the other article), a Merry Christmas, as he calls them out for their ranting and raving, etc. He names no one, states no rhetoric, and brings up what Christmas is really all about, Jesus Christ. My compliments to The Tribune for printing such opposing articles; the way it should be.