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Trustee: pilot payments reduce county revenue by tens of millions
Summary
The county trustee said pilot payments reduce taxable revenue and cited an estimate of about $43 million in foregone revenue; committee members and a public commenter also cited a larger county-plus-city figure discussed informally during the meeting.
Regina Newman, the County Trustee, told the committee that, per trustee accounting, pilot payments reduce the county's tax base by tens of millions. "We would have 43,000,000 more than we have, at least," she said while discussing frozen assessments and pilot payments in lieu of taxes.
A public commenter, Joe Kent, urged that city abatements also be included in any public-facing totals and suggested a combined figure of roughly $91 million when city-level abatements are counted — a number he said better reflects total local abatements. Committee members agreed that city data (Memphis) were not readily available and that slides should note that the trustee's chart reflects county-only figures.
