New Waterfront Tax proposed HB 629-FN

John Mercier · 02-06-2025, 08:27 AM

That becomes a political issue.
Then you have a statewide property tax that is not held by the municipality, but remitted to the State DRA for redistribution.

It starts to undermine the current position on that issue.

They also have a problem in the general funds, as the budget year runs from July 1st to June 30th, and the broader taxation numbers are tanking.
We have enough of a budget surplus to cover what we know from the first quarter (07/01 to 09/30), but not the numbers on the second quarter to see if that was a blip.

Legislation takes a while to get through, so from a budgeting standpoint, they are looking for new revenue without shifting the argument on the two court cases against them.

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02-06-2025, 08:27 AM	#24
John Mercier Senior Member Join Date: Jun 2021 Posts: 3,436 Thanks: 3 Thanked 605 Times in 499 Posts	That becomes a political issue. Then you have a statewide property tax that is not held by the municipality, but remitted to the State DRA for redistribution. It starts to undermine the current position on that issue. They also have a problem in the general funds, as the budget year runs from July 1st to June 30th, and the broader taxation numbers are tanking. We have enough of a budget surplus to cover what we know from the first quarter (07/01 to 09/30), but not the numbers on the second quarter to see if that was a blip. Legislation takes a while to get through, so from a budgeting standpoint, they are looking for new revenue without shifting the argument on the two court cases against them.