Small business advocacy group doesn't agree with Maricopa County's proposed property tax increase. | Pixabay
Small business advocacy group doesn't agree with Maricopa County's proposed property tax increase. | Pixabay
The NFIB, a nonprofit national advocacy group for small businesses, is voicing concern over the Maricopa County Board of Supervisors proposed property tax increase claiming it will adversely affect business owners who are already suffering impacts from the COVID-19 pandemic.
The NFIB states the Maricopa County tax increase will hurt the 20% of small business owners who "use real and personal property" for their business and will cause higher rent costs to the remaining 80% of business owners who lease property, according to an article on the NFIB website. The NFIB also "is not so light on cash in their coffers" after receiving $400 million in federal CARES Act funds.
"State and local governments should be doing everything possible at this time to help taxpayers survive this crisis and remain contributing taxpayers in the future," Arizona Tax Research Association President Kevin McCarthy recently told the Maricopa County Board of Supervisors, according to the article. "Of the $741 million in primary and secondary property taxes the county is on course to levy this year, allowing taxpayers to keep $23 million of their own money could go a long way during this pandemic."
McCarthy also argues that consistent tax rates along with increased property values will bring in millions in additional tax revenue, according to the article.
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