The Rome City Commission’s recent approval for the new TAD (Tax Allocation District) causes me to think of how does the City (or County, or both) take such actions to help the little guy.
By this I mean these benefits always go to big entities like new hotels. The reasons are always so that the builders or sponsors can afford to get started on a project and being forgiven future taxes is a big boost to their getting enough money together to finance a big project.
I understand that forgiving future taxes doesn’t take tax money away from our present needs. But it takes tax money away from year 2, year 3, year 4, etc., after project completion. And I understand that the proposed project justifying a TAD could be a good thing in the future. But we never seem to hear how much money the builder or sponsor has available already. We just hear that they won’t do the project without the TAD. This is similar to pro football or baseball or other sports teams that want a new stadium and if they don’t get all kinds of local taxpayer funding they will move to another city. Can you say blackmail?
As far as the “little guy,” how often does he or she get a break on taxes?
And if I wanted to build a new house to live in, why can’t I go to the city and get 10 years’ worth of forgiveness on my future property taxes, which would certainly help me in getting together enough funds to build me a new house?
I guess I’m just one of those who has different ideas on the kinds of things governments should approve and pay for with my money.