Tax Incentives
To the Editor:The letter writer notes that a copy of this letter was sent to the Newtown Board of Selectmen.
I am writing this letter to express my opposition to granting tax relief incentives to multi-unit housing complexes. As a former member of the Economic Development Commission and a realtor, I clearly understand the rational of using tax incentives to lure commercial and industrial entities to Newtown for the purpose of increasing our grand list and ultimately ease the tax burden on our residents. In contrast, large residential developments put additional demand on our municipal services and schools, thus negating any increase in tax revenue that they may generate and simply put more profit into the pockets of developers.
This clearly was not the intent of tax relief incentives. Let the market forces of supply and demand determine the viability of a development. We should not let developers profit on the backs of our already burdened tax payers.
Paul Fadus
5 Sunset Hill Road, NewtownÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ ÃÂ June 12, 2017