Retail Business Taxes
We read with interest an article in PATCH that shows, in addition to rents, the city’s tax on business is proving to be a real impediment to successful enterprise.
We all know that rising rents are causing many businesses to fold. But the City needs to accept some responsibility for this also. Even when market forces (Supply and Demand) cause Landlords to lower rents, it may not be enough to fill those empty storefronts. The city needs to provide tax breaks also. A new report has come out on empty storefronts in Astoria.
We know it is a challenging business environment today. Each of us has greatly increased their on-line shopping, and this has an undeniable effect. But this is not going away.
We need to provide brick and mortar business with the tools for their prosperity. Think of these tax breaks as a cities investment in its future.