|
#####
FOR IMMEDIATE RELEASE Boca Raton, FL – August 1, 2024 – This month, Palm Beach County voters will have the opportunity to decide on County Question 1, which proposes granting Economic Development Property Tax Exemptions to new businesses and expansions of existing ones. This would be accomplished by giving the County Board of Commissioners the authority to grant such exemptions to favored businesses. Proponents argue that it will foster economic growth and create new full-time jobs, which sounds promising at first glance. No one is opposed to economic growth or job creation; however, voters would be wise to look beyond the lofty goals and scrutinize the underlying assumptions. The proposal assumes tax exemptions will not merely facilitate growth that would occur anyway. Rather, the assumption is that such growth would not exist at all and would be fostered into existence by the exemptions. Otherwise, the exemption would just be a potential windfall for business owners without commensurate gains for the community. An additional presumption is that County Commissioners possess the prescience to identify which businesses will maximize benefits from these exemptions, a task fraught with uncertainty despite their good intentions. There is also an important but often overlooked trade-off: if the County forgoes tax revenue through exemptions, either residents will face increased taxes or diminished services, or both, albeit marginally. Would County Question 1 still seem as noble if reframed as “an authorization to slightly raise taxes or reduce services to boost profits for favored businesses?” Beyond these concerns, the question implies that current property tax levels stifle economic growth—a notion that warrants closer examination. Instead of patching the issue with selective exemptions, perhaps the solution lies in recalibrating property taxes across the board to foster a more business-friendly environment for all. In considering your vote, weigh not only the potential benefits but also the real-world implications and alternatives. Let’s ensure any decision aligns with long-term economic health and fairness for all residents of the county. The Libertarian Party of Palm Beach recommends a NO vote on Question 1. 2024 Primary Election Schedule:
Media Contact: Diona Kozma, Chair Libertarian Party of Palm Beach County Email: [email protected] About LP Palm Beach: LP Palm Beach is an affiliate of the Libertarian Party of Florida (LPF), dedicated to promoting the principles of individual liberty, limited government, and free markets in Palm Beach County. For more information, visit lppbc.com. This release was penned by Frank Montes, Treasurer, Libertarian Party of Palm Beach County. #####
0 Comments
|
AuthorLP Palm Beach County Archives
March 2025
|
RSS Feed