Davidson County/Nashville councilmen approved an historic abatement of property taxes of $175 million over 25 years! What will it mean long term for the citizens of Middle Tennessee? Good question.
First, what does it mean for property taxes? What was approved was this: Half of all property taxes generated from the city, for a period of 25 years, will be used to pay off the government insured bond for infrastructure.
The other half was pledged to create "affordable housing." No one has yet defined what affordable housing means. Is that more housing projects? Is it low interest loans? Sounds good but where is the substance?
How will it impact our state culturally? That is the $1.2 billion question! The ink has not even dried on the deal and Oracle is already boasting it will bring its West Coast values to Tennessee. I realize Oracle is currently in Austin, Texas. The company was formerly headquartered in Redwood Shores, California until December 2020 when it moved its headquarters to Texas. Something to ponder.
Not every "deal" is bad, but not every "deal" is good either. Some are neutral. It will impact Middle Tennessee in a manner similar to Nissan coming to Rutherford County in the early 1980s. It should be recognized that past history tends to predict future behavior. Wat is Oracle's past history? Find out HERE.
Especially focus on the indictment on bribing governments and their ban from participating in GSA contracts. Maybe it is "old news." Maybe not? One thing is certain, when you invite a wolf into your home you better keep an eye on grandma!