FEBRUARY 27, 2008

THE COST OF PILOTS IN MEMPHIS AND SHELBY COUNTY! WHO BENEFITS? WHO PICKS UP THE DIFFERENCE?

As the debate goes on about how to raise more tax money, sthere is a huge elephant standing in Shelby County sucking up tax money in great bundles. It is the PILOT (Payment In Lieu of Taxes) program. I have attached a spreadsheet compiled by the State of Tennessee for the year 2006. It shows that Shelby County gave away $48 million dollars (the difference between what sould have been paid on the properties at the full property tax rate minus what was actually paid). Look at the names and amounts on the list. Were these pilots worth it? Are they being audited and reported to make sure that the original promises are being kept. Are the length of the pilots being extended without public notice? $48 milliion dollars would go a long way towards quelling the call for more taxes on the poor homeowner. Look at the difference between Davidson County (column A, #19 indicates Davidson County) and Shelby County (column A, #79 indicates Shelby County).

Click here to see that the pilot program is costing us $48 million per year. See who is getting the benefits as homeowners pick up the slack