The average homestead value within the City limits of Lampasas increased from $111,428 in 2020 to $131,691 in 2021.
That is an 18% rise in just one year.
Back in 2018, when City council was busy handing Deorald Finney tons of tax dollars to “spur development” for his Stone Valley subdivision, the average value was around $97,000 – or a 36% increase in 3 years.
Finney himself promised houses that would sell for “between $150,000 and $175,000” but he is now listing them for between $200,000 and $250,000.
Do you think the City had any clawback provisions in that “agreement” with Finney when they handed him over $100,000 in taxpayer dollars?? Maybe a clause that says “if you sell these things for a ridiculous windfall profit, you give us our $100,000 back”?
Hell no. Finney is going to see a roughly $2.5 million windfall from this deal. This is typical when idiot politicians like TJ Monroe, Chuck Williamson and Misti Talbert get involved in handing out subsidies: any profits are privatized and go into the pockets of developers. Any losses are eaten by the taxpayers.
That’s why they live in mansions while Talbert and Monroe have trouble adding 2+2 together.
Once again, we see proof the Talbert administration (along with TJ Monroe, and Chuck Williamson) was a colossal failure and waster of tax dollars.
Misti is gone as mayor, but don’t let out any sighs of relief. She is now running the LEDC….into the ground, as it looks from my point of view.