The Lincoln Institute and the Minnesota Center for Fiscal Excellence jointly publish an annual report comparing property taxes among the 50 states.
The report for the 2018 tax year is out. You can see the whole thing here.
This year’s report lists El Paso as having the highest property tax rate on industrial properties of the top 50 cities in the United States.
The report shows three breakdowns: smaller industrial firms (land and building value up to $100,000), mid-sized firms (land and building value up to $1 million), and larger firms ($25 million).
We had the highest tax rate in all three categories last year.
Is this the way to attract industry?
We will probably read some comments about the local governments granting tax abatements to incoming industrial firms. Remember that those abatements have a finite life. After that the firms end up paying the regular tax rate.
The people that operate those firms have to pay property taxes on their homes, or if they are carpetbaggers through their apartment rentals.
We deserve better