Thursday, July 24, 2014
YOLO COUNTY NEWS
99 CENTS

Questions about city revenue

By
From page A4 | July 22, 2014 |

So, the city gets most of its income from property taxes, sales tax and building permit fees, right? (Really, are there other sources?) The city always falls back to wanting a technology park to increase revenue. It’s been a “want” for 15 years at least.

How does that bring in any money? We get property taxes, yes, but then discounts are given to entice companies to come to Davis. Am I missing something, or would it make more sense to try to stop the flow of sales tax revenue from leaving Davis? With a little more retail, you get property tax and sales tax revenue and we don’t have to waste gas driving outside of Davis. Shouldn’t we look at doing both?

Peter Carroll

Davis

Letters to the Editor

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Discussion | 2 comments

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  • AnonJuly 22, 2014 - 9:37 am

    If an innovation park is built, there would be an assessment district created, that would bring in an estimated $12 million per year in tax revenue to the city.

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  • Rich RifkinJuly 22, 2014 - 9:47 am

    Peter, one thing to know about manufacturers, like Mori Seiki or Schilling Robotics, is that they also generate sales taxes. All of their in-state sales are assessed the state and local excise tax. The products companies like that is very expensive--worth millions of dollars--and so small volumes of sales can still mean a lot of sales tax. Additionally, with property tax, keep in mind that they not only pay property tax on their real property (that is, the value of the land and buildings), they also pay property tax on all of their business equipment. So if they have millions of dollars of equipment, including computers and machinery, all of that is subject to property tax. The problem with property tax (for Davis) is not that these companies are having it waived. The problem is that, if a new business park is built on land which is presently outside of the Davis city limits, Davis will get a much smaller share of the property tax revenues than happens inside our present boundaries. This is done to pay off Yolo County, so that the county will not approve urbanization projects on our borders (as they once did with Mace Ranch).

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