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by sida 1947 days ago
OP means Property tax from employees. Because it creates a ton of jobs
2 comments

There are plenty of businesses that create tons of jobs and pay their taxes.

Tax deductions aren't meaningful for most companies. Samsung is pretty limited on where they can actually build this plant. It's not like Hattiesburg, Mississippi is awash with people experienced in silicon fabrication. So the company would have to pay a lot of money to import people from other regions. But Hattiesburg isn't exactly top on the list of places where experienced technical professionals wish to live.

The city counsel should play hardball with Samsung, since they will cave. This is one of those situations where it doesn't hurt to ask, but the decision is already made.

But what says those people will live within Austin city limits (ba dum tiss) and pay property taxes to the government that gave out the tax break?

Surely a sizeable number would commute?

Also, collecting new property taxes from a corporation would allow the city to keep rates lower for residents.