Comment 29973

By Robert D (anonymous) | Posted April 06, 2009 at 14:17:44

A Smith, we could lower the tax rate to 1%, and I you're right that businesses will likely flock here. However at that rate would the city be able to cover infrastructure and maintenance expenses? What about public transit? Social services? Business helps support some of these things, but the correlation is by no means a direct one, and it's often a slow reversal of fortunes, not instant.

We always have to balance our desire to attract business here with the amount of revenue we pull in from the tax system. What we have here is a curve, and we have to find the point on that curve that maximizes revenue for the city, not for private businessmen. I don't pretend to know where we are on that curve, but I don't think we want to be too hasty either way. Just because the vacancy rates are falling does not mean the city itself is in better overall financial shape.

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