What is your preferred method for increasing City revenue?
I think it’s best if the City has different ways of increasing revenue. I don’t think one method is necessarily better than another as they all have different impacts on taxpayers However, I prefer not to increase city revenue through a sales tax, as it is a regressive tax that disproportionately burdens the poor. I would like to see us convert more of our regressive taxes into progressive taxes. A good example of this would be replacing part of our property tax with a land value tax, whereby property owners are taxed on the value of their land, not the development on that land. There are several benefits to a land value tax including creating a more progressive tax system and reducing incentives for land speculation.
I do not have a preferred method for increasing city revenues right now. I do recognize when there is an identified need of raising revenues that may become necessary in delivering a need the community wants. I will be advocating for a housing bond, property tax, question to the residents in 2022.
We need to diversify our revenue streams, reallocate expenditures based on community direction by the priority-based budgeting process, and strengthen our commitment to build strong businesses with reduced environmental footprints. We need to support our small businesses in growing entrepreneurship and create new business attraction policies. We will continue to monitor and advocate for our State shared revenues to make sure they are being returned to our City in an accurate and timely manner.
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