TYRONE TAXES ARE GOING UP (TAD)

At the May 8 Planning Workshop, lawyer Davenport explained how Tyrone could raise taxes for downtown residents. He said it could be done by creating a Tax Allocation District (TAD) as part of the downtown redevelopment plan. First, the council has to pass a resolution designating the downtown area as a special tax district. Barry tried to do this last year but the election interfered. The new council will now go forward with Barry’s plan. Every residential home and business property will pay the increased taxes. Tyrone can then issue bonds or borrow money pledging your property taxes for security to pay back the borrowed funds. It’s a sneaky way of reducing the deficit and so complex that only a lawyer can fully understand. State usury laws don’t apply, so the citizens can be charged exorbitant interest rates. See O.C.G.A. 36-44-8 for the complex details.

The town can also create other TAD districts and expand this special tax to include other properties. The millage rate cannot be frozen and the rate can be increased at any time, unlike your general property taxes. Property owners will therefore pay two sets of virtually unlimited taxes.

Mayor Rehwaldt was told about this plan last year, but you will never hear him or any official explain it. The citizens’ only saving grace is that the TAD’s must be approved by voters in a special referendum. Spread the word, question your elected officials and watch for the referendum this year. VOTE NO!