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Started By
Message
re: Good news for Lake Charles area - Commonwealth LNG moving forward in Cameron Parish
Posted on 8/16/23 at 10:56 am to dewster
Posted on 8/16/23 at 10:56 am to dewster
quote:
For Louisiana’s tax exemption program - the option is to voluntarily not collect taxes in exchange for a private investment in a certain district or to not collect taxes on a private investment that never comes. Either way they aren’t getting that tax revenue. But if you offer the exemption, you at least get the jobs and indirect tax revenue for the duration of the exemption (5 years usually, but it’s sometimes extended).
Question, when these taxes arent collected and a budgetary items comes up that need to be addressed (lets say blown budget for some reason), where are the funds diverted from to makeup for the shortfall from non-collection?
Education?
3
Posted on 8/16/23 at 11:00 am to jizzle6609
Let me ask you this..... Do you think the folks that run businesses and the local school boards/sheriff dept. down in Plaquemines parish would like it better if tax breaks wouldn't have been given for that LNG massive construction going on right now?
Posted on 8/16/23 at 11:04 am to jizzle6609
quote:
jizzle6609
You are missing the entire point.
Without ITEP, all the sales taxes, added spending in the parish, rentals, etc for a project at large projects goes away in the short term and long term they still get $0 in property tax off these large investments.
At least with ITEP, places like LC and Cameron parish get the short term benefits of thousands of people living in the area temporarily, spending money, etc and then they get the property tax after the exemption.
This post was edited on 8/16/23 at 11:07 am
Posted on 8/16/23 at 11:15 am to jizzle6609
quote:
Now I'm socialist?
you quoted stats from a socialist org...so if the shoe fits...lace that MFer up and wear it
quote:
I'm not anti-ITEP.
could have fooled me
quote:
I fully understand what happens in year 11. You still have a decade of wear and tear on your infrastructure thats going to need to be addressed. This isnt cheap.
most of these are going in cameron parish, mainly the western lower half, which had the infrastructure built but essentially zero population since the hurricane. so there is no real wear and tear on infrastructure than there was before Laura. and now they have a tax base
quote:
Question, when these taxes arent collected and a budgetary items comes up that need to be addressed (lets say blown budget for some reason), where are the funds diverted from to makeup for the shortfall from non-collection?
Education?
again these are local property taxes being given the excemption. Comes from the state but mainly local. Right now Cameron parish needs as many bodies there as possible. they are way overbuilt for the population. It would be like telling detroit to not bring in large amount of jobs because it may strain the infrastructure even though they are built and have the infrastructure to support way way more people
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