Community Corner
Tax Dollars Collected on Commercial Property-A Net Gain to Windham; Those Colleced on Residential Property A Net Loss
When considering economic development in Windham, many factors should be considered and among the most important is that Commercial Properties provide positive revenue in tax income to the town and require very little in corresponding expenses for services, as compared to RESIDENTIAL where tax dollars brought in do not cover the costs of services provided. A 2012 Windham Conservation Committee “Cost of Community Services” services report shows that when $1,000,000 is collected from RESIDENTIAL taxpayers, $1,050,000 is spent out against that revenue in services. When $1,000,000 is collected in COMMERCIAL taxes, only $280,000 is spent out in services. So the commercial property taxes collected are contributing to our net revenues, while residential are costing us.
COMMERCIAL $1,000,000 in revenue to town
$280,000 in related cost of services to town
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NET = $720,000 + to Windham
RESIDENTIAL $1,000,000 in revenue to town
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$1,050,000 in related cost of services to town
NET = Loss of $50,000 to Windham
When considering both relief to home owners’ tax bill as well as net income to the Town of Windham, aren’t we well served to facilitate and grow our commercial enterprises?
The Windham Economic Development Committee – dedicated to enhancing the vitality of the local economy to balance the tax base for all Windham residents. Visit us on line at: windhamnewhampshire.com/committees/economic-development-committee