The answer is no.
Yesterday the Westerly Sun published an article about the tax breaks that the Town Council is giving to new businesses in Town.
Based on the current tax rate of $14.50 per $1,000 assessed property valuation and estimated property values, Tax Assessor Steven Hazard calculated that from fiscal years 2009 to 2013:
● American Kuhne would pay $92,166 and would be exempt from $52,823
● Pro Systems would pay $83,408 and would be exempt from $47,092
● Renova Lighting would pay $108,866 and would be exempt from $72,384 In his July 30 reports on each business, Hazard recommended approving the tax sta bilization requests, saying “the impact to the tax roll is minimal when compared to the future employment and tax benefits of the facility.”
Though the council approved each request with identical “findings of fact” — that the business will be “advantageous for the town,” will provide employment to residents and will be a “long term economic benefit to the town” — councilors scrutinized physical designs of two facilities.
Yes. The impact of development on out taxes is in minimal. If you divide the “$284,440 in taxes from these businesses during the next five years” that we are actually going to collect, we will increase our tax base by a whopping $56,000 a year! Even if we included the $172,229 we are going to give away in the first 5 years, we would have only increased out tax base by an astounding $90,000 a year. Wa-ho! Aren’t we smart little Hopkintoners! With benefits, that comes out to A SINGLE HOPKINTON EMPLOYEE. In fact, if we had fired 2 Hopkinton employees we would have saved more money than all the development in the next 10 years will generate.
I will reiterate, anyone who jumped onto Gilman’s PAC was a SUCKER! And the Town just provided the numbers to prove it. Chew on that for a while, Dorothy Gale. And if you are interested, I have a wide selection of bridges for sale cheap now that AIG is in the toilet….
But we do get to look at those awful monstrosities at Exit 1 for the next century. And they will blot out those dreadful stars that threaten to impinge upon the eternal incandescent glow we have all become so accustomed too (and depend on to keep the booger-man away). That’s a plus, right?
And job creation? Is Tax Collector Steven Hazard out of his mind ?!? Or does he think we are mentally incapacitated? American Kuhne hired 2 NEW EMPLOYEES! All the rest just moved from the old location!
This is pretty much the most pathetic thing this Town has ever done. Thank You, Vincenzo Cordone. I would call you a fool but you never cared about the consequences of your actions (in 5 years I doubt you’ll even live in Hopkinton) and you probably did know your sound bites about development were just that, empty promises. It’s the ones that voted for you that are the fools. I can tell you that I saw through you 4 years ago and did not vote for paving over Hopkinton for a bag of magic beans. Sadly, being vindicated is no real consolation.