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Don't ask us Citizens for a Tax Increase

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Pacman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pacman Quote  Post ReplyReply Direct Link To This Post Topic: Don't ask us Citizens for a Tax Increase
    Posted: Jul 08 2008 at 6:56am
Don't ask the citizens of Middletown for a tax increase if this gets past.Thumbs%20Down
 
"The council also will be considering an emergency ordinance for the approval of an enterprise zone for the proposed $350 million SunCoke Energy cokemaking and electric generation plant. If approved, the enterprise zone, which will allow a 10-year, 75 percent abatement on real and personal property taxes." Journal- 7-01-08.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote VietVet Quote  Post ReplyReply Direct Link To This Post Posted: Jul 08 2008 at 7:33am
OK- SunCoke gets 75% of their taxes knocked off for 10 years, then must pay their full share. Middletown gets additional decent paying jobs and the taxes from those paychecks immediately but must wait for the 10 year period to start collecting the full amount from this employer. What happens if the employer leaves at the 10 year mark? Middletown never realizes the full potential of this employer as a revenue supplier and the decent paying jobs are lost. Wonder if, in the negotiation process,to protect Middletown, Middletown officials considered this happening and insisted that SunCoke agree that if they pulled out at ten years they would have to reinburse the city the 75%/ 10 year abatement amount that they would have normally paid? OR, would SunCoke have located to another site if the city insisted on this? Just wondering how the negotiation process works with potential employers as there is probably a trend for employers to leave just as they must start paying taxes.Must be a way for cities to protect themselves from this happening.
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Pacman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pacman Quote  Post ReplyReply Direct Link To This Post Posted: Jul 08 2008 at 8:21am
Vet why does Middletown need to even consider this.  SunCoke's only customer is AK Steel with a 20 year contract.  The land gets re-zoned and SunCoke, I know threatened to go to Kentucky if they didn't get this tax abatement.  Let me give SunCoke a little help here, "before you get to the overpass on 122 turn Right".
 
Once the land is re-zoned there is no reason to give this concession.  Give me one valid reason to pass this EMERGENCY Ordinance, "because we did it the last time"....so what.  I would have no problem voting "NO" on this deal as it is bad for Middletown.  Of course this could all be academic as I am sure lawsuits will once again be filed after this round of "lets play Charades."
 
The job situation is already a wash with AK Steel announcing the moving of 75 jobs the day after the last re-zoning, convienent wasn't it.  So no gain there.  This should be a slam dunk for Council to vote "NO", any bets they muck it up.
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Middletown News Quote  Post ReplyReply Direct Link To This Post Posted: Feb 09 2009 at 4:02pm
This is a very bad time to be asking for a tax increase.
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