More tax incentive for developers

I guess if you have a lot of money, you get all the price breaks. According to the City in this informational presentation (PDF DOC: Tax Reduction Program – Informational Jan. 8.pdf;

Reduced Property Taxation

Any person desiring to claim reduced taxation on new construction shall make application to the Planning and Development Services Department on or before October 1 in the year in which the project is completed and shall first appear on the tax rolls as a completed or modified structure. The application shall be submitted on a form prescribed by the city. Upon Planning and Development Services’ approval of the application, the staff shall notify the applicant within 30 days stating whether the facility is eligible to receive reduced taxation.

Since 2008 the City has reduced approximately $14 million in property taxes. Seems strange when we are trying to find money for new infrastructure, like a sewer plant, we would be allowing these many cuts.

One of the arguments for these cuts is that the businesses will create jobs;

Review the requirements for projects to receive incentive:

◦ Job creation

◦ Types of jobs

◦ Increase in Tax base

Do we really believe with the wages these places are paying they will make up the $14 million in unpaid taxes? I think a requirement that should be under review is if these properties are paying living wages. Otherwise it is no different then TIFs, just another corporate welfare program.



3 comments ↓

#1 D@ily Spin on 01.07.19 at 6:33 pm

It’s no wonder people cheat on their taxes. We give them our funds and they forgive the upper class. Worse, they hire their 21yo relatives like Noem. Sometimes I want to be a prisoner so they can’t steal from me what I paid in meant to benefit the public but ends up a nice bonus for lazy rich kids.

#2 "Very Stable Genius" on 01.07.19 at 10:51 pm

But such socialistic ideas as a “living wage,” could challenge the local corporate politiburo’s need to collude all of the wages.

And these ideas of taxing corporations would be a violation of the Helmsley Law, that “Only the Little People Pay Taxes.”

Fore, how is a foundation like Helmsley’s to donate to a Sanford, if taxes need to be so satifisied?

And does not one apprecitate the trickle down-ness, which falls from the heavens like the mercy of a mist of hope so granted by such taxing forgivenness?

Be careful what you wish, for what you are calling for could destroy the hope of a gentle mist of mercy upon the “Little People” of the plains.

#3 D@ily Spin on 01.08.19 at 8:49 am

Tax incentives prompt a higher real estate valuation. The problem is that only a few insider developers get this incentive. Then, jobs are contracted to an out of state company. Jobs, what jobs? Shouldn’t the county have some say. They collect and distribute property taxes.

Cure these ills and there should be unlimited propert tax incentives.

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