Why Does C4RD Oppose the Tax?
1. The annual projected revenue available in each zone is too small to have much impact.
According to FDOT:
• Mill & resurface 1 mile of 2-lane undivided urban road (with bike lanes) costs $546,841
• One mile of sidewalk costs $153,869
Using these estimates only seven-tenths of a mile of roadway could be upgraded and only seven-tenths of a mile of sidewalks could be installed in each zone per year.
The City wants to do Phase 1 of the big drainage project around the Nova/Root Canal. That’s $15,000,000 - the entire 20 year projected revenue from this tax.
2. Will the city borrow money to be repaid with this tax revenue?
Given the meager funds generated annually in comparison to the large infrastructure needs, the City may try to borrow the money and use the tax revenue to repay the loan. Borrowing for infrastructure maintenance is not a fiscally sound idea, as it doesn’t generate any revenue.
3. There will be an ADVISORY oversight committee to allocate spending each year.
Ultimately our elected officials, guided by these appointed advisors, will make the final decisions. Isn’t their poor decision-making in the past a very big part of the current problem – what will change?
4. Too many public/private "partnerships" invest too many taxpayer dollars, without any guaranteed benefit to the city.
They promise jobs but too many of the jobs don’t pay a living wage. Here are a few examples:
• $ 22,500,000 to the Speedway/One Daytona. County also gave the same amount.
• $ 4,500,000 to Brown & Brown for infrastructure on their new headquarters. County also gave the same amount.
• $ 2,250,000 to Tanger Outlet Mall. County also gave same amount.
• $ 800,000 a year for 50 years to maintain Riverfront Park - $40,000,000 total.
5. It is not our only option.
Elected officials are always afraid to raise property taxes. But that is a more reliable way to raise money and it is part of the conversation we should be having. A half penny may not seem like much, but sales tax is regressive – the less money you earn, the greater the impact on your income. An increase in property tax allows those with higher valued homes to pay a bigger share of the burden. It should be discussed as part of a solution. The legislature is poised to spend $1.5 billion for NEW infrastructure for rural roads many feel are wrong for many reasons. Could state money help our aging infrastructure instead?
Taxes are the price we pay for the social contract that builds to build and maintain our community. Our tax dollars should be managed with our trust, in transparency, and with accountability. That is not the case today and a NO vote sends the message that we deserve better.