Helen Burns SharpAfter researching Hamilton County and municipal tax records, local public interest advocate Helen Burns Sharp says taxpayers have forgiven $26.2 million in taxes for companies in 2014 alone.
Public scrutiny of payment-in-lieu-of-tax agreements has been increasing in recent months, but Sharp has been eyeing tax breaks for years.
Sharp collected information about more than 60 active payment-in-lieu-of-tax agreements for property parcels in the 2014 tax year. And, based on her figures, companies paid $9.1 million in taxes for properties that would have brought in $35.3 million.
Sharp hopes the numbers get the attention of the public and elected officials.
"Tax incentives need to be reserved for projects involving significant public benefit where the incentive really makes a difference in a company's location or expansion decision," Sharp said. "We have lots of needs in our community, and we are seriously eroding our revenue base with the number and magnitude of PILOT agreements."
Sharp is not the only one seeking to shed light on PILOT agreements. Last week, Tea Party President Mark West and others questioned the relationship between elected officials and the bond boards that oversee PILOT agreements.