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Old 05-04-2017, 10:12 AM   #9
Major
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Quote:
Originally Posted by DickR View Post
If the "M" is the standard abbreviation for "millia," Latin for thousand, then $32M would be barely anything. If the intent was to say $32 million, then I have to suspect what was "heard." Talking round numbers, if each property paid ten thousand per year in property tax, there would have to be 3200 properties so taxed for SD/LB to generate that much collectively. Whatever the total take is, how does the total tax take from SD/LB figure into the argument for or against the proposal?
It is common practice to use "M" for million. Notwithstanding, you are correct, I was off by a factor of ten. See below, which is taken from an article about John Davidson --

Both communities now have over 600 property owners from many geographic areas who can call the Lakes Region “home”. Many are vacation home owners & semi-retirees and others are year round, permanent residents. Davidson’s ‘vision’ and hard work paid off immensely for the City of Laconia. Today both communities are valued over $114,000,000 by the assessor’s office and they contribute over $3.2 million annually to the City of Laconia’s tax revenue. That’s a lot of income which has helped the city construct a new police station, fire department, schools, parks and other amenities. Not only that but think of the economic impact these 600+ families have contributed to the Lakes Region. Many businesses have prospered because of these communities including general contractors, landscapers, lumber yards, furniture stores, boat, car & golf cart dealers, restaurants and even us REALTORS®…

Still, $3.2 million is nothing to sneeze at.
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