I don’t have time for a full post and I hate to push griftdrift’s post down the page so soon, but I think it’s important to point this out. The Fulton County Taxpayer’s Association is raising money to file a lawsuit to stop Atlanta’s Beltline project on grounds of it being against the state’s constitution. Here’s the reasoning:

“The proposed Beltline is the largest TAD in the history of our state,” Sherman said. ” Over the next 25 years, according to the Atlanta Beltline Feasibility Study, the Beltline TAD is estimated to support the development upwards of $1.7 billion in assessed taxable property or, approximately, $4 billion in market value.”

Atlanta currently has five TADs, with a total assessed taxable property value of $995 million, with the Beltline TAD approximating $1.7 billion, Sherman said. Under Georgia law, the total amount of taxes allocated to TADs in Atlanta cannot exceed 10 percent of the “current taxable value of all property in the city.”

The article also says Shirley Franklin wants to raise that ceiling to 15 percent to make room for the project. Thoughts?