Fridley page 89

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Government Handed Down A Recent Decision That May Cost This County About $4500
County Officials Are Hopeful Money Will Be Forthcoming From Some Source

            Contrary to an early announcement, 1941 real estate taxes will not be paid by former property owners of the TNT area, county officials and the land purchaser have been informed by the Government.
            The tax money on the estimated $500,000 assessment for the area will amount to about $4500, according to a recent check made by the county court.
            Payment for the land by the Government started the middle of December and 1941 tax money was held in escrow. However the announcement came that the people would not have to pay taxes for any period after 1940 and the checks were again made out in full.
            Although the county faces the loss of the money this year, a slight increase in the county general fund tax rate for 1942 will make up the difference. Even with the proposed increase the 1942 taxes will be lower than at the present time because of the redemption of the $1,000,000 road bonds.
            County officials intimated that the Government has under consideration the reimbursement to this county to make up for the tax loss but no decision has been rendered at this time.

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Estimated Revenue Cut From Loss of Taxable Property In the TNT Plant Area
County Court Making A Study Before Alloting Money To Be Spent During Year In this County

            With St. Charles county facing a tax loss of approximately $7,000 a year because of the Weldon Spring TNT plant, county court officials today were making an accurate check before drawing up the new county budget.
            The real estate and personal property assessment for the area absorbed for the powder plant is roughly estimated at $750,000. Exclusive of the school taxes a total of about $8,200 in taxes was collected from the former residents of that area each year. Of this amount about $6,800 was on real estate and $1,400 on personal property.
            While the real estate assessment is being wiped off the books, majority of the people have moved to new farms and homes in this county and their personal property will be subject to assessment.
            The 14,000 acre tract contains 247 pieces of property, records reveal.
            The county court will have to adjust their budget to meet the revenue loss.