$250K Backup


I received a text today from Councilman David Goss who wanted to know where I came up with that $250K figure I used in my previous blog post.  He did some calculations of his own and came up with $211,245.  Though the new number does not change my opinion about how the rash of small, inexpensive homes made their way into Wylie in such unusually large numbers, at least I have a more accurate number to use in the future.

I wanted to post the backup for how I receive the $250K figure because I didn’t want readers to think I pulled that number out of my ass.  Here are the backup emails:

From: Removed for private citizen
Sent: Wednesday, March 16, 2011 5:55 PM
To: Mindy Manson
Subject: Home Values

Mindy,

What is the 'break even point', so to speak, with regard to home values and taxes here in Wylie?  Someone told me that a home value of $250K or above  no longer costs the city money with regard to taxes collected.  Is that correct?

Your help in clearing this question up is appreciated.

My best,

Removed for private citizen


From: Mindy Manson <mindy.manson@wylietexas.gov>
To:
Removed for private citizen
Sent: Thu, March 17, 2011 8:10:33 AM
Subject: RE: Home Values
Removed for private citizen,

I don’t know that figure off the top of my head, but I will do some rough calculations and get back with you later today.

Thanks,
Mindy

From: Removed for private citizen
Sent: Tuesday, March 22, 2011 10:46 AM
To: Mindy Manson
Subject: Re: Home Values
 
Any information on this yet?

Thanks,
Removed for private citizen


From: Mindy Manson <mindy.manson@wylietexas.gov>
To:
Removed for private citizen
Sent: Tuesday, March 22, 2011 10:54 AM
Subject: Re: Home Values

My apologies - our e-mail was glitchy last week so it must not have gone through. I looked at the total cost/expenditures of General Fund departments and the estimated number of homes. Based on that simple analysis only the $250,000 is fairly accurate.

Hope that helps.
Mindy

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