Why Do Businesses Whose Taxes are ‘Forgiven,’ Never Repay Them?
I try to stay up on what's happening in our city, especially when it comes to taxes. Let me start by prefacing this blog by saying that I don't know any of these people. I have nothing against them. I just, honestly, have questions because I don't completely understand the process.
Jefferson Lines and Home Science Tools both got breaks on their property taxes. From what I read in the Billings Gazette, they will be exempt from a share of their taxes during construction and for the first four years of operation.
I'm not against giving a helping hand. And, I think that this encourages business, which is much needed. I'm just curious why the "forgiven tax money" doesn't get paid back at a later time when these businesses are up and running and doing well.
As a property tax payer, there are no breaks for me. Ever. In fact, mine go up every few years when they are reappraised in addition to going up whenever another levy is passed. (And, people who don't pay property taxes in Montana get to vote on mine going up. But that's another topic.)
I would just like to see some payback down the road from these folks who get help from us at the start.