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<br />Plp.as.:mton hp.rallO;;:l' of its. divprs.ifipd r,.'tail hac;;:l' has. bref'ly hpl'n c;;:pnrl'n thl' major loss. of snip" tnx <br />dolbrs. l'xpi'rienrpd hy mnny othi"r loralities dllrine rl'cl"""o;:innary times. In nddition to many S.tofl,rrnn' <br />rt"tniler" .11l' li.y rpC'f"ivpo;;:. o;;:ie,nificnnt s.nll"s. t:1Y dollnrs from cnndrllr:tion rpln1P.d indlldril"o;;:. nnd <br />I1l1o;;:.ines.c;;:-tn-hlls.inp.s.s. rf"tnil 'rnno;;:.ndinns nlthm'eh .hi" "ollrce hnc;;: dl'dinf"n in rl'C'pnt Yf"f1r" Thl' <br />rlnwns.itll' to thl' Inttl'r two typec;;: oftrnm:nrtion" ic;;: thl'ir o;;:.f"no;;:.itivity to l'C':onnmic rydl"s. <br /> <br />Salps. tax rt"venlle wa" nncp l"xppctpd to olltpnC':p. prop("rty tax r."Vf"nllp. no;;:. the mnjor "ollrC'p. of nenernl <br /> <br />Fund rp.Vl'llIlp. hilt it rlid 0;;:.0 only tt"mpornrily from IQQtl.o IQQ<) n" "hown in Fiellrl' ? on pnef"'_ <br />Prnpl'rty Inxes havl' once neflin hpronw the breer ,;:ollrc," Sall"o;;:. tax rpVt"nlle e,rowlh ha" o;;:.lowf"rl for n <br /> <br />varie.y of rpnc;;:ons. For l'xmnple till" lity hao;;:. loc;;:I .;:nles ':'IX dollars. to Intprnet "-nip..... that ottf"n arp <br /> <br />('xpmpt or can ec;;:C':npl' laxation A.... mp-ntionpd nhove hll"ine-C;;:C;;:4tn.hllo;;:.ines.s. rptJ:lil Irnn....actions. havl" <br /> <br />dpdinpd \Vhich may :1lo;;:.n hl' dllf" in pflrt tn .nlp-rnpt o;;:.alp-o;;:. Annlher C':nntrihlltine f..'ldnr i.... that the- lity <br />hns. ."xperienrPft inC':rensetl rf"l:lil compf"'tition hy neiehhorine r.ilif'C;;: in Ihp 1.""RO/I_hRO frf'p.\Vny corrinnro;;:. <br /> <br />With the.: develnpml'nt of the remainine var:1I1t r.ommf"rr.inl (find in Plp:1o;;:.antnn rhe lity \Viii hl"nl'fit <br />from nddition:11 npw 0;;:.:11(,,0;;:. ':1X cenp.rn.ine hlls.inp.c;;:s.ps. I-'nwl"vf"r rt"tnil dpve.lopml'l1' in thl" I-')ROIl_hRO <br />corricior"" from. ivp.nTIorp. 10 nllhlin flnet from nllhlin tn S:m Rnmnn nl....n C':ontiI1lH~" In p.xpnnrl RpcnllC;;:f'" <br />of thp- inr.rp:1s.p in r(.tnil nlltl..h:. in npiehhorine citil''' nnd tl1." rf"mntf" pns.s.ihili.y thnt till' St:1tf" will <br />rt"dio;;:.'rihlltp o;;:.nrnp. of Ihe lily'.... "nil's. tnx doll:1ro;;:. in rhl' filtllrt" it io;;:. IInlikely that PII"n"nntnn will ",-onn if <br />ever "'Pl' the' ernwth in "alp" t:1X rpVPI1lIP" th:.t it did in tilt" pflo;;:t <br /> <br />Property m:,,,,-e,,o;;:pd vnlllp" rnntillllP tn rio;;:." allhollch not fll thl" Ipvel" of .he prinr lwn dpC'fldp-s. Propl"rty <br /> <br />':lX rl'vp.mles :Ire prnjecll'd In inrreno;;:p ",Ok tn tlok nVf'r the nexl few yp.flrc;;: hilt cOllld trpnd in .11." mnet" of <br /> <br />4o/n 10 ""Ok as .hl' rity ee...;, dn..;,p.r tn np.np.rnl Plan hllild 0111 Ren",-c;;:e",-",-men's. hno;;:pd nn hoth rp<;,iden.ial <br /> <br />find c.ommercial prnpf'rty rf'o;;:.nlp~ will he ~m importan' f..'lrlor :1ffi"rtine thi" filtllrp. crnwlh ratp.~ in <br />prnperty t::lX reVl'nllt' In nddilinn thl" rp.mninine few nt'W hOIl,,-ine IIni'e;; fllIowf'd in thl' Genernl Ph," <br /> <br />will r.ontrihllte tn inrrf'nO;;:f'd prnpf"rty tflX rt"VPI11If' hll' nt':w nnn rl'mndp.led rnrnmt"rcinl rrnpprtif"<;; \ViII <br /> <br />likdy rompric;;:e n hiecer o;;:hflrl' ofthl" inr.rf'ns.p in the lone ft"rm <br /> <br />Fiellrf" 1 nn pflep _ reflp.rle;; the hio;;:toricnl pl"rc.t"ntflce of (jt'neml Fllnd revenlle dprivf"d frnm propprty <br /> <br />XI-9 <br />