Dan Coffey & John murphy Citizens for Responsible Government

Category: Community Organizations

The City handed out a flier that claimed, “Paying back $800,000,000 in twenty years will result in a property tax increase of just $8.00 more on average each year for the typical homeowner.” These figures are based on a $140,000 home, a price already below what the median Kansas City home is selling for.
Representatives from Citizens for Responsible Government (CFRG) challenged these figures and handed out a bond amortization sheet showing the real number to be $14.09 the first year with that figure escalating every year until reaching a peak of $193.47 in year twenty. The amortization sheet argued that it would take forty years to pay off the bonds.

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