Monday, May 4, 2009

Resident: Increase volume of residents and businesses through tax cuts

A "passionate" resident from Westwood has proposed a plan to Cincinnati City Council that he says could lead to a huge influx of residents and businesses into the City of Cincinnati.

"Everyone wants to be considered 'progressive', and if we do something out of the ordinary and extraordinary, we will ve progressive and each of you nine can guarantee your re-election if you want it," he says. "So how can we be more progressive than Seattle and Portland, and not be the next Detroit?"

The resident says that the City needs a bigger tax base, but that it's too expensive to live in the City except for "elites and folks not affected by Duke's and GCWW's huge rate increases".

His idea, which he calls radical, crazy, and progressive, would:

  • Cut property taxes for current residents by between 10 and 25 percent for the first year, with the normal rate resuming in the second year
  • Cut property taxes for new residents who move into the City prior to March 31, 2010 by 50 percent in the first year, cut them by 25 percent in the second year, and resume the normal rate in the third year
  • Entice new businesses with a tax-free first year, a reduction in taxes of 50 percent in the second year, a 25 percent reduction in the third year, then tax at the normal rate beginning in the fourth year
The resident says that he's sure he'll be called crazy.

"Nope, I'm not," he says. "Volume works. Volume fills gaps and has more readily available citizens to get involved and make up perceived gaps."

In his opinion, coupling the tax plan with a huge marketing blitz would be a huge win for the City.

"Imagine three- to five-page spreads in Inc. magazine, Entrepreneur Magazine, Fortune, Forbes, Wall Street Journal, Business Week," the resident says.

A report from city manager Milton Dohoney Jr. is due before council on Wednesday.

"You all have a huge chance to be heroes," the resident says. "We need to be different, we need to be great."