Peoria has more than it's share of naive adults. That includes those who thought this "out of stockholders pocket" center that Cat didn't need for 80 years or more would be a like "free lunch". If you read the JS today, you read what I blogged on some time ago and the JS figured out yesterday. Cat will get the $28 million drop in assessed property valuation and the public community will have about $800,000 less dollars to spend each year.
On the other hand, maybe less is better in the free spending public sector where the pay and benefits are far better than in the private sector. During the most recent recession, public wages increased by 17% overall while the private sector last ground.
I don't begrudge Cat for asking for a property tax reduction. I know the current method evaluating property does not work. I know the property tax is an unfair tax (as are hundreds of others). I do begrudge a wealthy CAT asking that the other property owners pay more without Cat complaining publicly of the habits of the free spending bureaucrats running our County, State and Federal governments. (think the museum under construction and the City of Peoria Council allowing the Library Board to spend $32 million, actually $50 some million including interest on the borrowed money while books sellers like Borders goes bankrupt and Barnes and Noble is for sale).
So I recommend that any property holder who feels their property taxes are too high, to follow established procedure and protest. I protested to the State and won. I may protest again as my property is certainly not increasing in value. A house, 100 yds from me has been for sale for going on four years.
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