NC Lottery to Raise Property Taxes

Oh, this is a nice little tidbit you didn't hear about as the lottery supporters were working on their illegal passing of the lottery bill:

A full 14% of the profits from the lottery will go to counties with effective property tax rates above the state average

Yes, that's profits only, not taking into account the highest paid lottery director in the country and anything else that can fit into the "expenses" category, including the 7% of every single ticket that goes to the retailer.

So get ready for this line from county commissioners: "If we raise our property tax rate above the state average, we will get more money from the state for school construction to offset the tax increase."

Holy crap. It's going to be a massive race to see who can raise property taxes higher and faster than other counties -- because for those who are a little slow on the math, the higher everyone raises their taxes, the higher the average gets, and the higher everyone has to raise their taxes to get "above the average."

I sure hope those lawsuits that clearly outline how the lottery was passed illegally get through.

Posted by: Ogre at 01:03 PM | No Comments | Add Comment
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