Temporary Tax Break Would Aid Main Street Growth

Temporary Tax Break Would Aid Main Street Growth

Letter to the Editor:

  This letter is in response to the article in last week’s Herald concerning the local property taxes levied on the structures recently renovated by Kagan Cuoghlin that we refer to as the old Blu-Buck buildings.

  First of all let me say that I have full confidence that our local assessor’s office is doing their very best to provide a fair and accurate assessment of our properties by using the guidelines provided to them by state law and local ordinance.  That being said, my question is, why were any property taxes levied on the buildings in the first place? 

Many cities and counties offer tax credits and exemptions to new businesses that have the potential to create a substantial benefit to their citizens. Our elected leaders must realize the long term benefit that will result from these derelict, dangerous eyesores being transformed into thriving businesses that will, in turn, generate a substantial tax revenue for many years. These buildings will not only contribute to the tax base in the coming years, but their value in making the city a better place to live, work and visit is without question. 

  Offering some type of temporary tax break to those who are willing to take on the financial risk necessary to make major renovations to a building downtown seems to be a reasonable and prudent course of action. As we all know, there are still buildings downtown that need extensive work and this type of incentive could easily spur such action into fruition.

  I urge our County Supervisors to grant Mr. Coughlin such a tax exemption and to strongly consider offering this kind of incentive to others who undertake similar projects. Our city and county leaders should be making every reasonable effort to encourage further growth and development and to minimize the obstacles to a better future for our citizens and visitors.

J. Clayton Peacock