Word: taxed
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Dates: during 1980-1989
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Unbelievably, this part of the bill claims that condo sales would generate new property tax revenues which could be isolated from other tax revenues and placed in a trust fund for subsidies and rental housing construction. This section contains several misconceptions...
Secondly, those who owner-occupy a house or condo are eligible for a property tax exemption, making it very unclear how much, if any, new tax revenue the condo sales would generate. And it is questionable whether 1-2-3 backers really gave Proposition 3 any thought. Even if funds were available and earmarking funds were legally possible, could they design a citywide subsidy program without creating a new city agency? Could they direct the city to build new low-cost rental programs...
...House budget was crafted in reaction to the $12.9 million spending package submitted in January by Gov. Michael S. Dukakis. The governor's plan is linked to a controversial $604 million tax hike on capital gains, alcohol, cigarettes and gasoline...
...normally raucous House chamber fellsilent, Flaherty told fellow lawmakers that thestate must now pick up the slack for a negligentfederal government and local communitiesconstrained by Proposition 2 1/2, the 1980property tax cap referendum...
Collins says that while in office, she chose the last route--increasing the state's funds by encouraging tourism and industry, and thereby creating more jobs and enlarging the state's tax base...