Tax revenues could be better spent
What a contrast in the two big items on the front page of Thursday’s CNJ: The Hotel Clovis project is under way because there was money found to fund it, but the dairy festival is called off because of the tough economy.
Do you think anyone noticed that funding for the hotel project is taxpayer backed but the dairy event would be funded by the businessmen and women of the dairy industry?
Clearly there is enough money to spend when it’s not yours … when it belongs to someone else.
Tax credits funded Hotel Clovis, but the dairy industry produces tax revenues — more than any other agricultural industry in New Mexico.
The city is using our tax dollars to do so many projects, while, as Arlene Dixon said in her recent letter, neglecting essentials like building sidewalks at our local schools.
It’s not that tax revenues need to be increased, but rather spent on more important things.
The city has money, because it attempted the donation of $1.4 million to the Hotel Clovis project.
Now, people believe that leasing the Hotel Clovis to the developer means lost tax revenues to the city. That is incorrect.
This project was eligible to request a waiver from paying property tax, and that waiver would certainly have been requested. But, the business there will still pay personal property tax on equipment, business furniture and such, so local tax funds will be generated.
Didn’t tell you that, did they?