Yup, kiddies. $5 million taken from the coffers is ONLY 2%. The Mayor and some councilors would like you to think that cutting 2% from their budget will kill this city.
Not only is that extremely laughable – it is a ‘bunch of crap.’
Actually, letting taxpayers keep the money to spend locally would help the economy more – because it would go towards local business in the form of products and services.
Who employs the most people in Sioux Falls collectively? Local business. Not developers, not hospitals and not the city.
Residents could face a special election this year in which they will be asked to lower the city’s sales tax rate by one-tenth of 1 percent – roughly $5 million a year based on recent tax revenues. While supporters say it will put more money in the hands of residents, others fear it would be a catastrophe, setting back economic development and quality-of-life projects.
Not sure if some yahoo from the city came up with that term or if the reporter did (or the editor) but calling a 2% cut a ‘castrophe’ is irresponsible and a disservice. Whether you agree or disagree with this tax cut should not matter – you should always demand the truth.