Word out of the County building is that the State is sending bills to industrial development agenices or IDA's for services rendered by Albany in overseeing these often unseen entities. It is a new source of revenue for the state.
While its seen by counties as the state eating its young, the revenue producing avenues open to IDA's obviously are attractive to other governments.
The fees charged by IDA's to grant exemptions from taxes range up to 25% of the amount exempted with the biggest payer being the state.
Is it any wonder, Albany is trying to recoup that money? A better way would be to render the state's portion of sales tax off limits to exemptions so the most regressive of taxes doesn't become more so by leaving only those of limited means the only ones always paying the tax.
In the case of Jefferson County's IDA, the bill sent is for $89,000, according to the County Administrators office.
4 comments:
Maybe Alexander will reach over and touch Bergdorf for advice on this one. I can't understand why the taxpayers should allow tax revenue to be traded for fees. At a huge discount no less. Did all the national brands that have sprung up here lately get IDA treatment? Local restaurants have all been hammered by chains such as CRacker Barrel, etc., is that a good thing?
Didn't his wife get a job there, have her pay it.
Maybe the State should start fee sharing with Jim Heary - he gets paid a huge closing fee on every deal that he advises the IDA to close.
County taxpayers have been getting a hosing from him for years.
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