Wednesday, November 26, 2014

Happy Thanksgiving from Media Mayor McMahon

Mayor Bob McMahon clearly understands your passion and now expects you to cover a $5.4 million bond. 

Happy Thanksgiving!

2 comments:

  1. By my calculation, we're looking at the equivalent of a 30% increase in property taxes. Here's why: The annual payment on a 20 year loan (typical for a bond issue) at 3% is roughly $360,000. Revenue from property taxes is budgeted at $1,177,500 in 2014. If you take $360,000 over $1,177,500, then you have a 30% increase in property taxes. Where are they going to come up with that kind of scratch?

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  2. I can't find anything about this online. No finance committee minutes and evidence of any discussion at borough council until very recently. And even then it's just a weird agenda item. We shift even know what this covers other than the library.

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