The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (11310)	6/20/2003 12:59:11 PM
From: GraceZ	Read Replies (1) of 306849

More than that, business is attracted to low tax localities and moves out of localities that have heavier tax loads. Efforts to increase tax collection on the part of taxing authorities almost always winds up having the opposite intent. In my area the City had almost twice the rate on Personal Property (a tax on assets used in business) as the surrounding counties. About 15 years ago the City got aggressive collecting that Personal Property tax which precipitated a migration of businesses that were subject to it over the line. I'm considered a manufacturing company and mostly exempt from the tax, so I stayed but numerous people I know who owned businesses that are considered service businesses left. This started a long term decline in revenues that still hasn't stopped even though they have passed several initiatives to even out the tax rate between the districts. They learn, but only after they decimate the tax base. That along with other dumbass movements against business over the years has made the surrounding county a donut with the City playing the part of the hole.

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