Property Tax Relief

Main Goal:

Provide $300 a year (-20-30%) in real property tax relief

Details: This would require 1.7x more sales tax revenue than we currently receive. We can increase sales tax revenue through recruitment of more businesses like Amazon, tourist resort, anchor retail stores

Finer Points: I would like to keep our budget as close to the No New Revenue Tax rate as possible each year. I would also like us to institute a property tax buy down with our sales tax rate. That will allow us to keep our tax rate more manageable as we grow. We will need to issue debt over the next 10 years for proper growth. The way we issue that debt and manage it will be critical. A property tax rate buydown will allow us to be more flexible with the debt we do issue and will ensure our tax rate is stable over this growth period.