We've all known for a long time, but now the numbers have come out. An independent economic analysis firm did a fiscal impact study of Pullman (as PARD has been whining about for months) that is being testified to at the moment.
The results are shocking:
The Pullman economy is losing nearly 50%, or $92 million in retail sales leakage annually due to residents shopping outside of Pullman, mainly in Moscow.
That equals $780,000 in annual sales tax revenue lost to the city of Pullman every year!!!!!!
Wal-Mart will go a long way towards allowing us to stop that leakage and NOT harm our existing businesses. Wal-Mart could easily add $500,000 EACH YEAR in sales tax revenue to Pullman.
So the question, "Is Wal-Mart Good for Pullman?" Has just been answered. YES IT IS!!!!
PARD should immediately withdraw its appeal in the best interest of Pullman. It's time that we rise up and demand they do so.
5 comments:
So how was it recieved in the room when this was disclosed? What did the cross exam reveal??
Mercy!!! Who would have thought such a bombshell was coming! Thank goodness your there!!!
Jason, I think that with the raised tax dollars by Wal-Mart and other retail stores like that is a 2 fold benefit #1 is from the property taxes raised which in turn makes it less likely that city/county government will need to raise my property taxes. Then #2 is a lot like #1 in that sales taxes will afford the city the chance to buy the needed equipment that they had to say no to this last budget cycle. I do agree with you that there is a point where government gets addicted to tax dollars and always wants more. But I have heard that Pullman is in the lower 25% of the average of all cities & towns in Washington as far as the amount of sales tax dollars per capita. If that is the case we have some catching up just to be average here in Pullman. Since we all need to buy things there is no reason that we should go out of the county to do that, an off shoot of that is we get to keep some the money here locally and not in some other town or city.
A short comment,
Tax increases, especially the local sales tax addon type, and/or local levy and assessor rates have been instituted due to the LACK of funds generated in the past for services demanded. While reductions of tax rates are rare, I believe a recommendation to review this by the appropriate individual/agency would be appropriate once "new found" dollars are available :-)
Jason,
You need to look up the difference between tax base and tax rate. That, my friend, is the difference in American politics
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