Cornelius town commissioners approved rezoning for the Village at Lake Norman. That’s fine. The ability of the developer to earmark taxes is not.
The developers have pledged to pay $35.2 million [in taxes they would pay anyway] toward the highway improvements. In addition, they say they will pay $54.8 million to widen U.S. 21 and Westmoreland Road.
Financing for much of the project’s road improvements would come from future property tax revenue generated by the development.
I’d like to be able to dedicate more of my taxes to increase the salaries of my children’s teachers. I’m already paying the taxes, just like Cornelius Bromont will be, so it’s not like I actually have to sacrifice or voluntarily pay more taxes. Somehow, though I don’t get the ability to direct my taxes in this way or claim that my taxes are being used exclusively for a purpose.
