Taxes – Everett Leader Herald

Sports betting

Sports betting began this week in Massachusetts with Encore Casino leading the way with its parent, Wynn Resorts the dominant sports betting entity in the nation.

It’s effect on individuals who cannot control themselves and on the Lottery must be watched carefully by the Massachusetts Gaming Commission.

Experts who follow the gaming industry claim sports betting will unleash an incredible torrent of gaming income for Wynn, and for the other gaming entities in Massachusetts.

Some experts have been indicating a great deal of turbulence might be caused by the opening of sports gaming in Massachusetts.

Specifically, they claim the state’s multi-billion dollar Lottery could be adversely affected.

If this is the case, the state’s successful Lottery could be impacted, causing a contraction in Lottery gaming and just the opposite in sports betting.

Experts claim it is impossible to know exactly what will be wagered with the sports betting platform that opened Tuesday.

Within 30 days, the state will know exactly what has been wagered here in Massachusetts, and specifically with Encore and Wynn Resorts.

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Where did we go wrong?

By Stephen Pinto

The casino recently pulled in record revenues, yet Everett taxpayers have seen a substantial increase in property taxes without further payments to the city from Encore. The situation is only going to get more painful.

Can’t say I see any real improvements in the city, either esthetically or operationally as a result of Encore’s presence.

It appears the mayor, council and the administration were short sighted on Wynn’s potential earnings.

Everyone also underestimated the mayor’s extravagant spending habits.

Wynn executives are laughing all the way to the bank while Everett taxpayers and renters are taking it on the chin.

The mayor totally blew it when negotiating Wynn’s host agreement. Let’s hope he gets it right the second time around. Should the mayor and council continue their ways of spending, then it won’t matter. There will never be a host agreement sufficient enough to satisfy the taxpayers.

It’s time for the council to take a serious stand against runaway spending.

Now let’s play stack the deck.

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Real estate values declining as Fed makes business difficult

By Josh Resnek

All of us who own property understand this: prices are not rising. In fact, they are dropping back from incredible highs.

The frenzy that surrounded listings, all listings for real estate here has subsided, and in many cases, has fallen back from the all-time highs reached last year before the Fed started raising interest rates.

And before the start of raising interest rates, the inflation gripping us now was sweeping into high gear.

All this has conspired to make the present Everett real estate marketplace difficult, according to the well-known and highly-respected broker Sandy Juliano, owner of JRS Real Estate in the city.

For the average person buying a single family home prices are going down, said Juliano.

“An average size home on an average size lot the prices are declining. Prices are definitely not going up. Prices are down about 10% from the highs of last year.

“Part of it is that we are in the middle of winter. Winter is always a light sales period. The question is, will the declining real estate marketplace recover in the spring? it might, “ she said.

Juliano said that when prices are falling, people tend not to place their properties up for sale.

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School debacle about mayor wanting things his way or no way all the time

**The mayor wants modular (above) over brick and mortar.**

By Stephen Pinto

The mess of finding additional school space (modular’s) has now been dumped in the mayor’s lap where it belongs.

Everett’s school mess has been years in the making as the administration turned a blind eye to overcrowding.

The administration was more focused on sucking up to Steve Wynn and building a casino than in eradicating overcrowding.

We were told by our politicians that Everett taxpayers basically struck gold with Wynn.

Well that couldn’t be further from the truth.

When you have to take $7 million dollars of free cash to hold the line on taxes you know something is wrong.

That $7 million dollars could be put to better use for so many other issues in the city.

I’ll say it again.

The City Councilors needs to do their job.

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Pleading with the council to act

Editor’s note: The following letter has been sent to all the members of the Everett City Council.

Dear Councilmen:

It was disturbing to see agenda item C053522 Cemetery Commission on the 12/27/22 Agenda for action to establish the Everett Cemetery Commission. Just what the tax payers need, more no show paid jobs for the mayors donors and supporters many from outside Everett. This will negatively impact residents by adding to the $300M bloated budget and padded payroll headcount. How many NO Show Stipend jobs on commissions and boards is enough for the Mayor? for our budget?

Taxpayers have had enough of the wasteful spending from the corner office that you all approve which means you support.

We voted for you to manage the budget and the city, not be a rubber stamp for uncontrolled wasteful spending! Do you have the business acumen to stop the mayor’s lack of fiscal responsibility and financial mismanagement with the CFO, or are you part of the problem?

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