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Date Posted: 07:52:50 02/07/18 Wed
Author: Its not just the EDC that recoups its the city in more taxes!
Subject: Re: payback plan
In reply to: EDC only gets 1/4 of every sales tax dollar so over the next ten years the businesses will have to generate 600,000 in sales tax just to re-coup EDC funds of 150,000. 's message, "Re: payback plan" on 19:05:38 02/06/18 Tue


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Replies:

  • Re: payback plan (NT) -- Sorry, your math is flawed. EDC gets 1/4 of a cent of every sales tax dollar. To recoup $150,000, you would need sales of $60,000,000., 17:01:55 02/07/18 Wed
  • Re: payback plan (NT) -- Or, $600,000 per year. But, in ten years, the valuation of the dollar will be much less, so the equation will change greatly to recoup that dollar amount in future dollars., 17:05:02 02/07/18 Wed

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