Request Legal Help Now - Free


Property Tax Revenue

Columbia, SC: (Nov-13-07) Richland County brought charges against the city of Columbia, alleging that the city mismanaged county funds, leading to a financial whiplash. The suit claimed that for the past 20 years, the city has used a special tax district in the Vista to claim all new property tax revenues as land, and buildings there became more valuable. It stated that the tax increment financing district, or TIF, allowed the city to borrow money to pay for high priced projects, ranging from the convention center to street beautification projects. Without the district, those new property tax revenues would have been shared with the county and Richland schools.

As part of a settlement reached, the city council agreed to end the special Vista tax district, enabling Richland County to receive a $5.5 million windfall and settling a months-long legal dispute. Sources claimed that the tax district was set to expire in 2008, but due to the deal, has had its life shortened. [THE STATE: TAX MISMANAGEMENT]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.
Published on Nov-14-07


Please read our comment guidelines before posting.

Note: Your name will be published with your comment.

Your email will only be used if a response is needed.

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free