property tax rate http://wvxu.org en Borrowing money for Smale park will likely mean no property tax decrease http://wvxu.org/post/borrowing-money-smale-park-will-likely-mean-no-property-tax-decrease <p>Cincinnati Council is expected to vote Wednesday to issue $8 million worth of bonds to finish another portion of Smale Riverfront Park.&nbsp; That borrowing likely will mean city homeowners will not see a decrease in a portion of their city property taxes.<br /><br />Issuing bonds is essentially the same thing as taking out a mortgage on a house.&nbsp; You get a large lump sum of money up-front and then pay it back over a long period of time.&nbsp; The city sets aside a portion of its property tax revenue to make these payments. &nbsp;<br /> Tue, 25 Mar 2014 16:14:49 +0000 Jay Hanselman 24666 at http://wvxu.org Borrowing money for Smale park will likely mean no property tax decrease