School taxes and commercial development

Why it is Important to Increase Commercial Assessments in the 45th district?
Increasing commercial assessments in the 45th district is critical to the success of the district.  The Downingtown, Octorara Area, and Coatesville school districts face tough budgetary decisions everyday in an effort to keep taxes from rising out of control for homeowners.


Commercial property development is essential for the success of school districts.  It offers the best of all worlds inasmuch as it provides additional tax base without adding children to the school district.


The more the assessed value of the properties, the more income the school district will garner.  The question is how to you garner more assessed value?  I increased the value of real estate in Phoenixville 20.25% adding $149,015,998 in assessed value to the tax roles (2002-2010). The tax rate this year for the Phoenixville school district is 27.06 and the increase in assessed value would mean an additional $4,032,372.91 to the school district budget this year.


How did this happen?  In 2002 Phoenixville was the last place people would want to invest.  When I got there, I was able to instill confidence and investment followed.  The increase in the commercial real estate almost quadrupled and that lead to housing values almost doubling.  


Of course, there was new housing investment as well as a change in the hospital operation from non-profit to a for-profit. A great part of the hospitals decision not to move out to the 422 corridor was the efforts of the town’s revitalization efforts. In the darkest hours, when political decisions made it seem like the move was imminent, Manny DeMutis and I made the visit to the Hospital CEO in an effort to get the hospital to remain.  It was a successful meeting except we had to look at 24 x 36 glossy mounted pictures of the Boston Red Sox’s high fiving and home plate.  Not that I am against the Red Sox or anything…just saying.


So how does this relate to the 45th????  Take a ride down the route 30 corridor…vacants abound, disinvestment rules.  I can change that.  I can instill investor confidence.  I can provide leadership.