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Story Archives: V-vehicle tax vote this Saturday


V-vehicle tax vote this Saturday
by Jamie Mayo - posted Thursday, October 15th, 2009 @ 9:41 amE-mail Story E-mail Story | Print Story Print Story 
In this week's column, I will answer a few frequently asked questions about the property tax on the October 17th ballot.

Frequently Asked Questions:
What is the property tax for? On the ballot is a 1.8 mills property tax, not to exceed 15 years. It is designed to generate funds for the local match in incentives. These funds are to be used for the sole purpose of bringing V-Vehicle car plant to Ouachita Parish. This millage cannot be used for anything else. Local funds for the project will be paid only after all state funds have already been committed, after the required investments by the V-Vehicle company have been made.

How much will this property tax cost taxpayers? This is an annual property tax. The amount paid is determined by the value of your property and if you have Homestead Exemption. See the following example:

Residential Property with Homestead Exemption

Property Value/Amount Paid
Up to $75,000/ $0.00
$100,000/ $4.50
$200,000 / $22.50

Residential Property without
Homestead Exemption
Property Value/ Amount Paid
$50,000 / $9.00
$75,000 / $13.50
$100,000 / $18.00
$200,000 / $36.00

Why can't we do a sales tax to pay for the local incentives? We could not do a sales tax because sales taxes are statutorily capped at 9.99 percent, meaning local governments would need legislative approval to place a sales tax that would exceed 10 percent on the ballot. Due to the time frame government leaders were dealing with, this was not a viable option.

How much will V-Vehicle jobs pay? According to V-Vehicle officials, the average salary will be around $35,000 to $40,000 plus benefits.

What does having V-Vehicle really mean for our local economy? According to estimates, $13 million is to be spent in local engineering and other professional fees as part of a $100 million dollar expansion of the plant. Around 500 construction jobs will be needed for the expansion. Annual payroll is projected to be near $60 million dollars for 1,400 direct jobs.
For additional information on this subject, visit the following Web site:
www.ouachitavoter.com

This property tax has been endorsed by The News-Star, Monroe Dispatch, Monroe Chamber of Commerce, West-Monroe West Ouachita Chamber of Commerce, and many civic organizations, local businesses, local ministers and religious leaders.

This is a historic moment for our region and the future is in our hands of Ouachita Parish voters. Let's do what will benefit generations to come.

Please help provide an opportunity for your neighbor, friend or family member to get a good paying job. This company can and will transform our region.

You can help make that happen by voting YES this Saturday, Oct. 17.

Take someone with you when you go vote.

James E. "Jamie" Mayo is mayor of Monroe.
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