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5/8/2010 2:59:45 PM
 
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Section 5: OPA Board Subject: OC Bayside Debacle Msg# 738418
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Joe, No I didn't know if or how our tax exempt status affected our property taxes. As I have said before, I ignored the taxes completely. In my opinion, the net income was the important number and the taxes, like other expenses such as utilities, insurance and maintenance were operating expenses covered in whole by Seacrets and as long as we were made whole if it cost $1.00 or $1,000,000.00 it didn't matter to me. Ted |
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For reference, the above message is a reply to a message where: That is why I ignore the taxes in looking at this situation and didn't worry about the assessed value. You are saying that when reviewing the lease you KNEW then that OPA was tax exempt on those properties and the property tax only exists because of the lease? If so, why didn't you say so when some were saying Seacrets paying the taxes was a BENEFIT to OPA? |
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