Development team, city officials express optimism about project.
Development team, city officials express optimism about project. Back to the full article.
You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.
If you are an existing member, sign-in to leave a comment.
Have questions? Need to report an error? Contact Us
“No city subsidy is proposed for the development.” Amen!
“At the city’s current property tax rate of $22.42 per $1,000 of assessed value, a $190 million development could generate approximately $4.26 million in annual property tax revenue. The funding would be divided among the city, Milwaukee Public Schools, Milwaukee County, Milwaukee Area Technical College and the Milwaukee Metropolitan Sewerage District.”
“It could also provide a substantial financial boost for the entire city.”
Please explain why a condo such as this will bring in more tax revenue than a similarly sized rental unit, who’s property owner must pay the equivalent in taxes?
is the ascent fully rented out? just curious about that one. looking at the proposed prices of the units reminds me of when i was a single mother in graduate school living on a really limited budget and reading about people’s second homes. i was furious with that article. we cater to the rich and also the powerful at the expense of building community where everyone could have lovely amenities.
As B is stating, no city subsidy is being demanded for this development. Multimillion dollar handouts from government entities have become expected by residential developers. If these projects are “can’t miss” let them spend their own money.