Tax Realty Consultant

THE MEETING:

It’s required by state law . It will be held at 7 p.m. in the cafeteria of the Kittredge Magnet School for High Achievers, 2383 N. Druid Hills Road.

WHAT IT MEANS:

County commissioners Jeff Rader and Kathie Gannon, who represent the area, want to create a 417-acre district where some property tax revenue normally collected to pay for services such as fire and police protection would instead pay for new roads and other infrastructure in and around the district. Such improvements could pave the way for a proposed $1 billion, mixed-use development by the Sembler Co. at the North Druid Hills/Briarcliff intersection.

WHAT’S NEXT:

County commissioners could vote to approve the district at their Dec. 18 meeting. A consultant has projected that a tax allocation district could generate $25 million over 25 years, based only on the county government portion of property taxes there. It could produce another $40 million if the county school system also elected to redirect its tax revenue to the project, but previously school officials have voiced opposition to such measures because they divert money from education. Projected revenue from the district is far less than the estimated $135 million to $185 million to pay for a master plan developed to improve traffic and infrastructure .

AND AFTER THAT:

The tax allocation district would generate significantly more money if the 100 acres that Sembler is trying to acquire were rezoned. Most of that land is currently zoned for homes; the zoning required by Sembler would allow more density and a greater of variety of uses, rendering it more valuable for tax purposes.

http://www.ajc.com/metro/content/metro/dekalb/stories/2007/12/03/dektad_1204.html

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