ATLANTIC MAYOR QUESTIONS COMMERCIAL PROPERTY ROLLBACK DISCUSSION
(Atlantic) Atlantic Mayor Dave Jones says there is talk in the statehouse about a 40-percent cut in commercial property taxes. Jones says it sounds great...but.....
“Here’s my point, I’ve got a commercial building that I own so I pay commercial taxes on it, I’m also the mayor of the city which I’ve got to watch the taxpayer dollars, but I’m also a private citizen that pays property taxes and I know that if you take 40% commercial tax out, sounds great, but I know the city has to do something to make up that 40% and I know as a taxpayer I’m going to get hit with it,” said Jones.
Jones admits it is good for economic development; however the 40-percent loss of revenue has to be made up somewhere.
The bill is categorized as a study bill only at the present time.