To the editor:
As far as I know the Municipal?Property Assessment Corporation and its predecessors have always tied the revenue approach to any property they could, so that would likely include paper mills.
With the closure of so many newspapers, it only makes sense the production of newsprint would be significantly reduced, leading to significant revenue reduction, as well as a significant reduction in the property value.
Check the stock values also.
It's interesting to note, when the revenue approach is applied to raise values by MPAC, the tax-receiving city is not concerned with the fact our city may well have gotten to the position of being non-competitive due to uncontrollable city costs and fees here.
They include water and power rates, as well as all city taxes, when companies are looking to locate new developements.
Also, I don't remember the revenue approach to properties being lowered by MPAC when there is a turn down in revenue to a property. Please correct me if I'm wrong.
J. S. McConnell,
Thunder?Bay
