Beatrice, Nebraska, giving away land to generate revenue

Giving away land without cost will perk the public interest. Or so Beatrice hopes. Beatrice, Neb., once provided public domain lands to pioneering farmers via the Homestead Act of 1862. The U.S. was in a different place at that time, economically. Today, town officials have drawn up their own Homestead Act of 2010 in the hopes that giving away essentially free land will generate real estate tax revenues to bolster the town’s money reserves. The New York Times reports that towns like Beatrice, Neb., can no longer make any open public land a part; they need tax revenue. Article source – Beatrice, Nebraska, giving away land to generate revenue by Personal Money Store.

Small town America should follow Beatrice’s example

The spectre of budget deficit haunts more of small town America than ever, according to the Times. Quite possibly supposedly rich resort retirement towns like Boca Raton are feeling the pinch. Lawn maintenance is one of many costs that collective tax revenue on giveaway land would help allay. Having more individuals in town will inevitable increase the town’s cost to provide services, but the property tax may be more than enough for making up that gap and then some.

Is taxing the non-profits next?

In other spending budget drive activities, towns like Concord, Mass., and Manchester, N.H., are wondering going following the tax exempt status of their non-profits. Non-profits have lived in their tax shelters for some time. Fifteen percent of Concord’s real estate is made up of such tax-free structures. Will there be a tipping point where tax-exempt parties will be required to pay taxes to aid their communities? Private schools, churches and numerous other organizations could come into question. More and better sources than the New York Times have inveighed long and hard for this to happen.

Beatrice was the home of the original Homestead Act

Where the homestead started is where it shall return. Clearly a figurehead is needed, if the National League of Cities’ recent findings are accurate. The NLC study found that property tax, sales tax and state aid will experience deficits of $ 55 billion to $ 85 billion by 2012. Slumps in property tax, sales tax and less state support of smaller towns means that some drastic action may be necessary. The tax benefit is there if more individuals are brought in, and building new and improved homes would also raise property values.

Dollars make sense of this problem

You will find critics that question whether a town like Beatrice, Neb., should be able to give free land to just anyone. ”What is the value of a lot to us if it is empty?” is what one concerned town mayor asked the Times during their report Harsh realities often require direct solutions.

Additional reading

nytimes.com/2010/07/26/us/26revenue.html?_r=2 and amp;hp