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We pay full rent for no indoor dinning and Gov. Murphy has not reduced any property tax that we are also responsible for. Crazy times.
3 Replies
Barbara Bothe
from Legacy Recovery and Wellness pc
James I am sorry for your pain. Sadly the taxes are only going to get worse to pay for all the handouts. I wasn’t terribly prosperous before COVID but I have maintained. I’m helping the restaurants the only way I know how. We eat out often and tip well.
Greg Stessel
from REO Contractors, Inc.
Interesting point on taxation. Of course the physical dollars are still needed by the Govt, but there's going to have to be a tightening of Govt spending as well. What you've brought up in my mind makes me think that taxes are either lowered now, or tax revenue will naturally will be lowered later. It would make sense to lower property taxes (and business income taxes in those States) now, when it might help at least a few businesses to survive. Otherwise, as businesses fold, how much tax can be collected then? Also, as businesses fold, that ol' supply and demand thing kicks in, and as property values go down, so does tax revenues. They can either try and make adjustments now, or deal with whatever happens, later. Thank you James, for stirring up a few of my slightly used brain cells!
Sean Rooney
from Rooney Insurance & Financial
Hang in there James, stay safe!