The Milwaukee Journal Sentinel did some digging into the pre-election campaign finance report filed by a group called LEGACY, which wants to have the voters in the Elmbrook School District screw themselves out of $108.8 million (well, make that $300 million by the time interest payments are figured in) through a pair of referendums to remake the two high schools into twin Taj Mahals. First, they’re outspending the the pro-taxpayer Vote No April 3 group by something north of 7.4 to 1; while the borrow-and-tax-and-spenders reported they raised and spent about $7,400 through last week Monday, the no-more-taxers certified that they will neither raise nor spend more than $1,000 through the entire campaign (left unmentioned in the story is that Vote No April 3 also stated they will not receive more than $100 from any individual) and thus are taking the exemption from detailed campaign finances.
That, however, is not the most-interesting tidbit in the borrow-and-spend-and-taxers’ money trail. Who donated what is. Let’s start where the Journtinel started, with Rob and Susan Stieg. Rob works for Boldt Co., who Elmbrook hired to oversee the Twin Taj Mahal renovations at a cost of $550,000. Indeed, Rob is the principal-in-charge of that project. Rob and Susan donated $100 to the cause.
Next, let’s head to the big-money donors. $1,000 came from two different people, and a third person donated $300. Considering that Fred Dooley can’t take a donation over $250, I find it curious that these three people were able to pump in that kind of cash.
Our final stop ends with a pair of real estate companies. $800 came into the campaign from Core Realty Holdings Management Inc. Also, Shorewest Realty did a $100 in-kind donation for a phone bank. I do trust that it was actually from people that work for those firms because the last time I checked, corporations couldn’t donate to campaigns in Wisconsin.
That last tidbit begs the question; why would real estate companies be in favor of higher taxes? The answer is actually very simple; they don’t earn money on property that isn’t sold, and one of the main reasons why property is sold in Wisconsin is because the current property owner can no longer afford the taxes to stay. It does not matter much whether that price is high or depressed.
For years, Realtors have preached that “better schools” mean “higher home prices.”
That’s true.
However, the Realtors have forgotten that “better schools” is NOT the equivalent of “big new buildings.”
Worse, as taxes increase, property values will decrease (home purchase prices are a function of cash-flow.)
So the Realtors are peddling half-truth, and are not really concerned about maximizing property values any more.
‘Tis a puzzlement…