Photo by PoPville flickr user AWard Tour
Thursday afternoon WBJ’s Michael Neibauer wrote a story titled, Tax break eyed for Capital City Diner:
Citing its economic and social impact on the surrounding community, [Ward 5 Council Member] Thomas has introduced legislation that would exempt Capital City Diner from property taxes through Jan. 1, 2016. The diner is assessed by the city at $320,340. The exemption amounts to a $5,000-plus annual tax break.
The article also quotes Ed Lazere of the D.C. Fiscal Policy Institute, who says:
“While the Capital City Diner is located in a neighborhood without many sit-down restaurant options, it is unclear why a restaurant that currently is operating needs a further incentive to continue its business,” Lazere said. “There are a number of restaurants that have opened in recent years on nearby H Street NE, none of which has received this kind of assistance to our knowledge.”
So the FQotD is a simple one – what businesses do you think should receive tax breaks? And how long should tax breaks given – 1 year, 5, years, 10 years? I know that developers also commonly receive tax breaks – who else does? Who else should? Do you know of any other restaurants that receive tax breaks?