Interesting point

Rich emailed me with a pretty interesting question from one of his students who asked what the Glenn Tax would do with regard to Tax Allocation Districts. The student said that would TADs would cease to exist, and Rich and I agree with that assessment.

As you know, TADs use the anticipated tax growth from rising property values in designated geographical areas to finance new infrastructure or other public improvements to help encourage new private-sector investments in the community. Eliminating the property tax, then, would eliminate a key tool many local communities have come to use to encourage economic development.