City lost arena property tax

Published: Tuesday, Jan. 14, 2014 - 10:12 am

The Bee has never fully explored the fact that when the city took control of the land under the arena, the arena owners were no longer responsible for its property taxes. At most, they have only a possessory interest to pay. So, the city lost the arena property taxes, and shrewd tax lawyers can help the arena owners skirt paying the possessory interest. The owners also do not live within the city limits, so when this fiasco tanks, only city residents will take the fall in terms of discontinued services. All this talk of a region dissolves as I see no one in the region saying they will bail the city residents out when services are cut.

-- Illa Collin, Sacramento

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