Rio Nuevo approves deal to boost tax receipts

Bridge concept for New Science Center at Rio Nuevo
Bridge concept for New Science Center at Rio Nuevo

By Darren DaRonco | Arizona Dai;y Star

For years Rio Nuevo has been shortchanged on revenues because not every business that is supposed to be paying into the district has been.

But that could change soon, as the district’s board unanimously authorized signing an agreement with the Arizona Department of Revenue giving the district access to tax forms showing which businesses’ sales tax collections are being credited to the downtown redevelopment effort.

About 1,100 businesses within the district are supposed to fill in a code on their tax forms so Rio Nuevo can receive its share of those tax dollars. But district employees can’t access the forms to see how many of them are actually entering the code.

The result has been fluctuating sales tax revenue that Rio Nuevo officials can’t explain.

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