Corporate Welfare

Phipps Plaza is looking for a $9.5 million tax break on its $300 million makeover reported in the AJC 10/19/18, page A1 article “Mall seeks tax break for $300 million makeover”. Belk, their third anchor retailer is closing. They are shrinking retail space and want to build offices restaurants and entertainment venues. They expect the renovation to be finished in 2021.

The owners want a property tax break from Fulton County on the part being renovated and will likely get it. The owners will continue to pay Fulton a lot of property tax on the parts not affected by the upgrade.

Buckhead residents are likely to support the renovation and they pay most of the property taxes.

There was a time when commercial property didn’t get these tax breaks. But the argument could be made that commercial property under renovation didn’t produce revenue and most cities and counties took that into account. Some cities and counties adjusted the property value in real time. But under today’s practices, companies get tax breaks for moving in.

There is a valid argument to be made in favor of having the private sector pay the lion’s share of renovations.

We also have the new stadium virus that makes us tear down our 20 year old stadiums and build a new one for $2 billion and hand half the bill to the taxpayers.

There was a time when ballgame tickets were affordable and stadiums weren’t as fancy, but in 2018 Brave’s average ticket prices jumped from $19.18 to $31.71. Parking passes were $20. There is no joy in Mudville for poor to middle class sports fans who used to pack these stadiums.  We taxpayers are hoping to get more than 20 years out of our current crop of stadiums, but we are still tempted to say ‘Go Braves and take them Falcons with you’.

Norb Leahy, Dunwoody GA Tea Party Leader