3 ms·

I'm not sure if they are directly related, but either way, given that the twitter tax brakes were supposed to bring new life to mid market yet hardly did anythi

I'm not sure if they are directly related, but either way, given that the twitter tax brakes were supposed to bring new life to mid market yet hardly did anything. Is this a way to reconcile the damage that came from those tax breaks?

jtmcmc 8y ago
from https://sfcontroller.org/sites/default/files/FileCenter/Documents/5914-CMPTE%203%20year%20review_final.pdf https://sfcontroller.org/sites/default/files/FileCenter/Docu... Businesses within the Area paid $7.6 million more in payroll tax in 2013 than they did in 2010. While some increase would be expected because of the economic recovery, the Area generated $7.1 million more in payroll tax than it would have, if it had grown at the same rate as the rest of the city from 2010 to 2013. Also based on payroll tax filings, there were 61 more businesses in the Area in 2013 than there were in 2010. Again, some increase would be expected, but there were 32 more than there would have been if the number of businesses in the Area grew the same rate as the rest of the city from 2010 to 2013 Taxable sales, which reflect the health of neighborhood-serving retail businesses, grew more slowly in the Area than the rest of the city from 2010 to 2013—a 10% increase as opposed to a 25% increase in the rest of the city. Had taxable sales in the Area grown at the same rate as the rest of the city, an additional $90,000 in sales tax would have been generated. An examination of trends in commercial rent, residential asking rents, and housing values in the Area revealed that, while increases have been rapid since the exclusion took effect, similarly rapid increases were seen in the rest of the city, and there was no appreciable difference between the Area and the rest of the city in the growth of commercial and residential rents, and housing prices.

3 ms·

I'm not sure if they are directly related, but either way, given that the twitter tax brakes were supposed to bring new life to mid market yet hardly did anythi

by zjaffee 8y ago

jtmcmc 8y ago
from https://sfcontroller.org/sites/default/files/FileCenter/Documents/5914-CMPTE%203%20year%20review_final.pdf https://sfcontroller.org/sites/default/files/FileCenter/Docu... Businesses within the Area paid $7.6 million more in payroll tax in 2013 than they did in 2010. While some increase would be expected because of the economic recovery, the Area generated $7.1 million more in payroll tax than it would have, if it had grown at the same rate as the rest of the city from 2010 to 2013. Also based on payroll tax filings, there were 61 more businesses in the Area in 2013 than there were in 2010. Again, some increase would be expected, but there were 32 more than there would have been if the number of businesses in the Area grew the same rate as the rest of the city from 2010 to 2013 Taxable sales, which reflect the health of neighborhood-serving retail businesses, grew more slowly in the Area than the rest of the city from 2010 to 2013—a 10% increase as opposed to a 25% increase in the rest of the city. Had taxable sales in the Area grown at the same rate as the rest of the city, an additional $90,000 in sales tax would have been generated. An examination of trends in commercial rent, residential asking rents, and housing values in the Area revealed that, while increases have been rapid since the exclusion took effect, similarly rapid increases were seen in the rest of the city, and there was no appreciable difference between the Area and the rest of the city in the growth of commercial and residential rents, and housing prices.