Walmart tax revenue misconception

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Editor,

As I listen to my neighbors and friends discussing the pros and cons of the possible Walmart construction on Michigan Road, I am struck by one large misconception. It is viewed by some that this will have a positive impact on Zionsville because of “all the tax dollars that will come in to help the schools” and possibly take away the increased property taxes the citizens currently have to pay per the recently passed referendum.

What is misunderstood is that the land Walmart currently owns is in a TIF district, meaning any property tax generated from this land will go to a separate fund tagged for infrastructure improvements. The only opportunity our schools will have of seeing any money from Walmart building on this property is if a significant percentage of new Walmart employees at this location decide to build a new home in Zionsville. However, if any of those employees did build new homes in Zionsville, the revenue generated from their property taxes and income taxes would be put into a pot that is divided between Boone County, the public libraries, fire and police expenses and lastly, the schools. This is the only slight possible benefit Zionsville Community Schools will potentially see from Walmart.

 

Aimee Agan

46077

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