I would like to correct the inaccurate and erroneous information submitted by the Ansonia Democrats in their May 18, 2017 article titled “Ansonia Democrats: Mayor Imposing ‘Rushed Spending of Mass Proportions.’”
In regards to new revenue from the sale of the properties located at 153 Main Street and 497 E Main Street, the Ansonia Democrats state “…gains $19,000 per year from development of the ATP/Palmer buildings.”
In actuality, based upon the proposed sale agreement and the current mill rate of 37.32, the total estimated gains to be realized in year one through three total $43,343.44 per annum. This figure then rises to a total estimate of $58,152.02 per annum in years four through seven. That is an estimated $24,343 to $39,152 miscalculation of the Ansonia Democrats.
This estimated calculation of tax is based upon the information released to the public on May 9, 2017 and can be found online at: http://www.cityofansonia.com/news/?FeedID=751.
The projected tax revenue over the next seven years is as follows:
(Based upon current mill rate of 37.32)
At the end of the seven year period the properties would realize their full revenue generating potential, which is estimated to be in excess of $100,000 per year. This figure does not include potential revenue for personal property taxes arising from commercial tenants, which will drive the revenue potential even higher.
The writer is the assessor for the City of Ansonia.
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