GPLET tax incentive draws developers, but might also hurt small businesses

tax incentive

tax incentiveBy Agnel Philip | Downtown Devil

Wayne Rainey thinks his property taxes are too high.

As MonOrchid’s owner, he estimated that property taxes are the second or third largest expense associated with running the art gallery. Elsewhere in downtown, large-scale projects have been given a tax incentive that significantly reduces their property taxes in an effort to promote redevelopment. However, Rainey could not get that incent ive because of the costs associated with its approval process.

“It’s unfair, competitively, to expect small businesses to supplement the larger ones,” Rainey said. “It’s choosing winners, really.”

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