The implosion of the former G.M. / Fisker Boxwood Plant will implode Red Clay local school taxes.

Former GM plant on Boxwood Road to be demolished, Harvey Hanna says in exploratory plan , The News Journal Published 7:00 p.m. ET April 16, 2018

After demolition of the near 3-million-square-foot facility, the Boxwood Road plant will be home to a business, fulfillment and distribution campus spread across four buildings with a smaller footprint than the previous structure.

Meantime back in the ranch Cowboy Merv is keeping the $$ card close to his chest. No one is talking about the property reassessment that lowers the value of this property whereas it would low school taxes to be paid, Who know what the property value will be after the demolition.  But in the interim Red Clay will see less property taxes being paid from this property.

For Fiscal Year 07/01/2017 – 06/30/2018 TOTAL SCHOOL DISTRICT TAXES DUE 2,015,608.27   

School District 

RED CLAY   38913100  2.31400 / 100   $900,449.13
NCC VOCATIONAL 38913100   0.16030 /100  $62,377.70
Total Current Tax    $962,826.83
Prior Balance             $907,570.23
Penalty                         $145,211.21
TOTAL SCHOOL DISTRICT TAXES DUE  $ 2,015,608.27

Tax History as of 5/5/2018 3:00:02 AM Do the math on what has been paid since Bill issues on 7/25/17

 

7/25/17 tax bill appears to be based on assessment value of 38913100 and this appears to be current assessment value: 

Tax/Assessment Info

Assessment

Land: 5700200
Structure: 4100000
Homesite: 0
Total: 9800200
County Taxable: 9800200
School Taxable: 9800200

 

At 9,800.200.00 x last year’s 2.314 per 100.00 assessment this would equal $227,235.00 for Red Clay in contrast to $900,449.13 = 673,214.13 LESS in Red Clay School Tax. And this will be less once plant is demolished. 

Now I am no CPA but this what I see. But at the end of the day, there is an impact in Red Clay school taxes that will have to be made up through another referendum shifting the burden on others. The sad part of all this is, Merv is hiding in the corner like a scared mouse. Red Clay taxpayers need clarity on this issue and its impact. 

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One response to “The implosion of the former G.M. / Fisker Boxwood Plant will implode Red Clay local school taxes.

  1. Those whining teachers complain about low pay and no supplies while two million in taxes is not collected. Good thing somebody like Kilroy will put this in print. Tough luck kids who did not get the buildings repaired or had activities cut for lack of funds. The board of education must be asleep not to get this bill paid. County tax collector and counsel must hold title to the real property until payment is made. Same rule of law for everyone.

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