A Word From The Publisher
Tax Breaks: Manna From Heaven?

The revelation that the new owners of the Garden City Hotel may qualify for tax breaks will probably come as a surprise to most residents, as this news hasn't been reported elsewhere. (We appreciate Nassau County Assessor Harvey Levinson's alerting us to the issue last week.)

It seems to us that while everyone loves getting tax breaks, no one wants to consider where that money is coming from. Every dollar that is given in tax incentives has to come from somewhere. While everyone loves those tax rebate checks from the federal government, the money is not manna from heaven that was just created out of nothing. Similarly, if a business gets property tax abatements and mortgage tax abatements, that is revenue which local governments have to make up elsewhere. And that "elsewhere" is from the rest of us.

We're not saying that the hotel does or doesn't deserve approval from the Hempstead Industrial Development Agency. Since we have only heard a little about the new owner's plans, that judgment is hard to make. We'd really like to hear a dollar value placed on how much potential property tax revenue will be lost by the village and school district.

Undoubtedly there are times and places when it makes sense for a community to help shoulder the burden to upgrade its commercial properties, (especially if a community is economically depressed). The question is, should it be here and now?

Meg Morgan Norris

Publisher