Michael Dell puts his name on Austin medical school - funded by 63 percent hike in property tax rate

[jsr]

http://www.statesman.com/news/news/dell-family-foundation-to-donate-60-million-for-ut/nT98b/

Posted: 11:00 a.m. Wednesday, Jan. 30, 2013
Dell family foundation to donate $60 million for UT medical school, local health care
By Ralph K.M. Haurwitz
American-Statesman Staff

The Michael & Susan Dell Foundation has pledged to donate $50 million to a planned medical school at the University of Texas and $10 million to improve access to local health care and the quality of that care.

The school will be named the Dell Medical School.

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http://www.statesman.com/news/local/health-board-poised-to-ask-voters-for-5-2434495.html

Health board poised to ask voters for 5-cent tax increase
By Mary Ann Roser
Updated: 7:41 a.m. Sunday, Aug. 12, 2012

The Central Health board appears poised to vote "yes" this week on asking Travis County voters to approve a 5-cent property tax increase to support medical school operations and other health care initiatives.

Whether Travis County taxpayers would approve a 63 percent hike in their property tax rate, from 7.89 cents per $100 of assessed value to 12.89 cents, remains to be seen. Most property owners who have contacted the American-Statesman in recent days called the proposal ill-timed, saying that the economy remains fragile, that property taxes already are too high and that Travis taxpayers shouldn't be asked to help pay for a medical school.

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Meanwhile...

http://www.statesman.com/business/business-digest-ut-a-regulators-close-six-banks-1404652.html

Business Digest: UT-A&M investment fund holds almost $1 billion in gold; regulators close six banks, bringing total for year to 34
COMPILED FROM WIRE REPORTS
Published: 7:25 p.m. Friday, April 15, 2011

The University of Texas Investment Management Co., the second-largest U.S. academic endowment, owns almost $1 billion in gold bullion, according to the fund's board, as the price of the metal hit a record Friday.

The fund, whose $19.9 billion in assets ranked it behind Harvard University's endowment as of August, added about $500 million in gold investments last year, said Bruce Zimmerman, the endowment's chief executive officer. The value of the holdings reached about $987 million this week.

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Speaking of Dell property taxes...

http://www.kxan.com/dpp/news/investigations/corporations-cash-in-on-tax-breaks-for-farmers

Corporations cash in on tax breaks for farmers, ranchers
It's legal, but some cry foul of the policy
Updated: Wednesday, 31 Oct 2012, 10:54 AM CDT
Chris Willis, Lead Investigative Reporter

According to records obtained from TCAD, Dell has a total of 264 acres on six properties with agricultural valuations. Property taxes on its market value of all those properties would be an estimated $382,201.

But instead, Dell pays only about $1,088 in property taxes on those 264 acres, a difference of $381,113.

One of the Dell properties is a 65-acre tract along Louis Henna Boulevard, right across from the Dell campus. In fact, it’s only a few steps from a major shopping center and sandwiched between commercial developments.

The property taxes on the market value of the 65-acre tract would be about $85,694 a year. But because the Dell property has cows on it, and has an agricultural valuation, the company pays a mere estimated $219.

[wilt the stilt]

1. If you put your name on it

then it is not a "donation". It is advertising.

[Hard Assets]

2. Dude, you got a cadaver!

[ZRT2209]

5. lolol

[wasserman]

3. can the laid off dell workers who pay property taxes to support this taj mahal get a cup of coffee

$4 billion medical school??????????? gold faucets???

[NoPasaran]

4. Let's just be clear on one thing

The 63% increase is on the health care district portion of the property tax, NOT the overall property tax rate. I live in Austin, and other taxing entities include the school district (far and away the biggest chunk of it), the city, the county, the transit authority and the community college district. And the tax increase for the medical school was approved overwhelmingly by Travis County voters back in November in spite of opposition by the local GOP and Paulbaggers.

As far as the Dells go, well, when you're rich and powerful and able to write big checks, you get to paste your name on things. Anybody got a few million burning a hole in your pocket? We've got a bikeway named for Lance Freaking Armstrong that could be re-branded if the price was right.

[wasserman]

6. why should local homeowners pay for a school that will not benefit them

lol it was a kirk watson scam

i saw the tv ads
i live in austin, i know
btw i am no rand paul fan. i am a working poor democrat and homeowner