Health & Fitness
Property Taxes Part 2
When we talk about property taxes we need to look at more than just cutting on the expense side. If we want to lower them we need to do more to make sure we attract and retain business.
Property Taxes Part 2
When we talk about property taxes we always talk about lowering them by cutting expenses but there is another part of the equation that needs to be considered. The revenue side. We can lower the amount of tax we pay as residents by both expanding the tax base and replacing property tax revenue with other revenue, such as sales tax.
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When I talk about expanding the tax base I am referring to bringing more businesses to town. This is particularly important in the Lisle Township section of Woodridge. When you compare property taxes between two Woodridge residents, one living in Lisle Township and one in Downers Grove Township, there is a rather large disparity between the two. Downers Township is larger and has a far bigger business base to ease the tax burden on its residents. We need to do everything we can to retain and attract business to all of Woodridge, but especially within Lisle Township. Every dollar that a business pays in property tax due to new construction or improving an existing building is a dollar we, the residents, don’t have to pay. All of our taxing bodies will benefit from this, meaning residents will benefit from it.
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Woodridge is moving into a more mature phase in its development. Large spaces for commercial development have for the most part been taken. The effort in the older sections of town, the Lisle Township areas, will require more work to attract and retain business. It will be redevelopment and infill, looking to add viable business entities to smaller lots. This is where my 9 years of experience on the Berwyn Development Corp. Board will be valuable. We regularly dealt with those issues and used many different tools to accomplish goals. I’ll make sure we are always working to create a climate conducive to business growth and expansion and aggressively look at ways to make Woodridge the place business wants to be.
New business also means new sales tax dollars. While this is not revenue that is shared with our other taxing bodies it is money that can be used to reduce the village portion of our property tax bill. The more we can do to create an environment that is business friendly the more we will be able to grow our sales tax revenue.
And of course a growing business community means jobs. Jobs for our residents mean more people will have more money to spend locally. More customers in our local establishments lead to more revenue for the business, a healthier business climate and increased revenue for the village. And successful businesses attract additional business.
As a small business owner and active member of the Woodridge business community I will be an active participant in bringing business to the village. We will actively market Woodridge as the place business wants to locate. We’ll enlist the Chamber of Commerce to make sure we market ourselves to the widest possible audience. We’ll make sure everyone knows when we have successes, such as the Edward Don development, and we’ll use those successes to attract more business. We will grow our business community and our tax base. Rather than promise not to raise taxes I’ll work proactively to lower them.
I see this as an exciting time for Woodridge and I look forward to your support and your vote on April 9.
Video http://youtu.be/ozApx7pD95Y
