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Teed off at the juicy tax break your town offered a Home Depot?(RIVAL INTERESTS)
Kiplinger Letter, The, February, 2008
Teed off at the juicy tax break your town offered a Home Depot?
Take a lesson from Phoenix-area businesses. They felt shafted by local governments' efforts to lure new employers with sales tax breaks, property tax exemptions and other incentives existing firms didn't get. When the competition among the area's towns and counties got too hot and the inducements too sweet, established local businesses blew a fuse.
The Arizona legislature finally stepped in, calling a cease-fire in the bidding wars in the Phoenix area. Now there's a move afoot to expand the ban on such business tax breaks statewide later this year.
In other states, there's talk of taking a similar path. Lawmakers in Colo., Ark., Mo., Ga. and N.C. are mulling moratoriums on breaks.
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