Abatement review is right call
This week officials from the county, school district and City of Ironton met about the current tax abatements offered to potential businesses.
While these abatements allow for the deferral of taxes paid by businesses in Ironton, reviewing the 30-year-old ordinances is the right call.
We understand in some cases abatements for potential businesses may be necessary; so is ensuring revenue coming into the city meets the needs of all who benefit from that funding.
It is important to have a good structure in place because in many instances businesses will look at a city’s elements such as foundation, finances, school districts and services offered before making a decision on where to locate.
If the city is not receiving funding from those taxes because of abatements, then leaders are forced to find alternate revenue streams or reduce expenses.
While reducing expenses is essential in some cases, alternate revenue streams should not come in the form of increasing levies or placing new ones on the ballot unless doing so is a last recourse.
Making a decision on these issues is not easy and should be based on all the information possible. Working together with other groups provides the best possible outcome for all parties involved.
Ultimately, it is promising to see leaders from city, school district and county entities working together on these issues and looking at all options.