I had learned a few months ago when Lloyd came crying for their TIF for the Cascade that Lloyd paid the most property taxes and had the highest property tax valuation;
Lloyd Property Management (Lloyd Cos.) adds $186.8 million of tax value to the city, according to the annual Comprehensive Annual Finance Report released last by the city earlier this month.
While Mr. Snevaliscious does a great story, it’s just the tip of the iceberg. (I’m hoping you have some follow up stories). So how much does Lloyd actually pay? My rough estimates would be between $2-3 million a year. But is Lloyd actually paying the same percentage as you and me or other property owners in town? The reason I ask this question is because Lloyd has received millions in TIFs (tax rebates) from the city and not just Sioux Falls, but other communities across the region.
I would be curious just what tax rate they are paying after averaging their entire payment. My guess is they are getting significant breaks. And if you think this will end after TenHaken just appointed a former Lloyd Executive as his COS, you my friend are sadly mistaken.