Tag: Tax abatements
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How to pay for special tax treatment in Wichita
Mr. Mayor, members of the city council, I ask that you not vote to approve this request for a tax abatement, and that you cease this practice altogether. Alternatively, I ask that you adopt a practice that will help realize the costs of these actions. It is no doubt difficult to compete with other states…
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Remarks to Wichita City Council, April 1, 2008
By asking for the TIF financing, developers are sending us a signal that without the special tax favor, their project would not be economically feasible. They evidently have judged that it would not be profitable. They must feel that they will not be able to sell or rent at prices that will cover their costs…
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The harmful effects of Wichita’s special tax favors
In the past few weeks a handful of companies in Wichita have asked to be exempted from paying property taxes on investments they have made. This week Wichita may decide to grant special tax treatment to a large development in downtown Wichita. Is it wise for the City of Wichita to grant these special tax…
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City of Wichita acknowledges taxes are not good for business
Wow! Someone in city hall realizes that a reduction in taxes is good for business, and is reducing taxes in response to that revelation.
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Tax increment financing in Wichita benefits few
In Wichita, tax increment financing (TIF) benefits few at the expense of many.
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Wichita City Council and Cessna Aircraft Company Industrial Revenue Bonds
I received this letter written to Wichita Mayor Carlos Mayans and members of the Wichita City Council. The author makes excellent points about the harmful effects of special tax treatment for special interests. A better goal would be to work to reduce taxes for all companies and all people. This way, each company and individual…
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Maximum taxes means minimum growth
Kansas has high taxes. Even worse, the high taxes are high property taxes that stifle capital formation and hold down wages. Two new studies rank Kansas at the bottom of this region when it comes to soaring property taxes. That should not be too surprising since Kansas and Nebraska are the two states that provide…
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Tax increment financing in Wichita benefits few
How does a TIF district work? The Wichita Eagle reported: “A TIF district doesn’t cost local governments any existing tax money. It takes property taxes paid on new construction that would ordinarily go into government coffers and redirects it to the bond holders who are financing the project.”
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Sedgwick County surrenders key tax advantage
Spirit Aerosystems CEO Jeff Turner defended the massive spending hike that was used as the primary justification for the county’s 8.8 percent property tax hike in his editorial August 9, 2006. Turner’s support for this increased government spending ignored some important ramifications behind this economically destructive vote.