County bond issue ‘has very much to do with taxes and raising them’

Staff Reporter Burke Wasson’s Aug. 14 article about the impending St. Louis County bond-issue vote quotes Councilman John Campisi, in part, as having said: “Number two, it’s not going to raise any taxes. It has nothing to do with taxes at all.”

I’ll bet he didn’t get a mathematics scholarship to any university.

Granted that passage of the bond issue will not increase the tax rate, it certainly has very much to do with taxes and with raising them.

For example, if a homeowner must pay $200 per year over a 10-year period to retire current bond debt, over 10 years he will pay $2,000. If he continues to pay at the same annual rate for an additional 10 years to cover new indebtedness, his tax cost will be $4,000. An additional $2,000 is not an increase in taxes? That has nothing at all to do with taxes?

Edward A. Rohde