by Bhavesh Jinadra by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: FRIDAY, April 2, 1993 TAG: 9304020456 SECTION: EDITORIAL PAGE: A-10 EDITION: METRO SOURCE: DATELINE: LENGTH: Short
MORTGAGING CHILDREN'S FUTURE
DURING our recent presidential election, one candidate's theme was that the U.S. Congress was selling our children's future. On the local level, our City Council seems to be doing the same.
The ever-increasing real-estate assessments are counterproductive to home building and buying.
The $3.45 personal-property rate does the same for the auto and auto-related business.
I doubt the "Hokie Hilton" will ever generate enough in taxes to repay the debt so that our children will not have to pay for the rebuilding.
Council now says the 3-cent increase in cigarette taxes will generate $305,000 a year to pay off the $6.3 million jail debt. My question to council: Have you sold your share of the 27,854 packs per day it will take every day for 20 years to repay the debt? Only 10 years, if you add the motor-vehicle tax. HAROLD L. GIBSON ROANOKE