So just how much potential property tax revenue are local officials denying their districts? Based upon an analysis of Coos County property taxes by David Cay Johnston, most of us pay a rate of 1.42%.
Various cited figures list the taxable improvements and equipment for ORC at $43,000,000 for a total tax of $609,781.46. ORC has already benefited from three years of ‘pre-improvement’ tax abatement and are requesting a two year construction phase extension and an additional three years on top of that for a total of eight years of tax relief. Just counting the next five years the local taxing districts look to lose out on $3,048,907.28.
Apparently, our elected and appointed leaders believe ORC is more important than our schools, fire departments and police and sheriffs.
Taking this a little farther, if we consider the assessed value of the Bandon Dunes Golf Resort at $179,031,235 and use the same rate you and I pay for our property taxes, the local taxing districts would benefit from $2,538,835.52 in annual revenue. Extending the Coquille Valley Enterprise Zone to include the Dunes has cost the county millions of dollars in badly needed revenue.
Former Commissioner John Griffith had the good sense to vote against offering the resort a ‘free lunch’ but Nikki Whitty voted for it. What, exactly, did she think was in it for the citizens who elected her, to deprive them of county services to assist an already successful and thriving business?
What benefit does the Port expect from giving ORC a free lunch? How, exactly, does depriving the port its share of $600K a year help the port?
Coos County’s unemployment rate has doubled since the formation of these zones. How does anyone argue in favor of providing tax abatement as an incentive to bring in jobs?
But, with a larger salary, more taxes to the government. Well, I guess only if your rich and make $250,000.00
Thanks, den, it is amazing that despite no empirical evidence whatsoever, our civic leaders believe e-zones are beneficial. ORC didn’t come because of the e-zone and even benefited from an existing mineral processing facility. The move here could hardly have been easier from a geographic point of view, especially with our high quality chromite.
ORC is already 20% done with the construction without the extension so a proper business plan would show them doing just fine without it and our schools doing even better without giving them free lunch.
ORC thinks their profits outweigh the needs of our school children. Regardless of the so called higher wage, hiring a couple of teachers and another librarian would benefit more people than a couple of people getting a larger salary.
Just in case you missed any of this agenda for our County, region. There are many people who see this as the way it is, but others do not. unfortionally the current political leaders in office who are making decision, choose to go with the governments plan, fancy that.
http://www.eda.gov/AboutEDA/AbtEDA.xml
http://www.eda.gov/
http://ccdbusiness.com/
http://www.oregon4biz.com/Ezone/ezones/Bay-Area/