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Monetizing Property taxes:How a community can stimulate its own economy without taxes or long-term debt,[object Object],To advance slides, click on Mouse,[object Object]
What’s missing?,[object Object],Unused resources,[object Object],Money!,[object Object],Unemployed,[object Object],Vacant Land,[object Object],Idle Facilities,[object Object]
And where do communities usually look for that money?,[object Object],External sources,[object Object],…and if outside sources are not forthcoming?,[object Object],How can a community create new money from within?,[object Object],Federal and State government,[object Object],Outside investors,[object Object]
Create new ‘local’ money???,[object Object],Any such money would have to be…,[object Object],[object Object]
 Equivalent to ‘legal tender’
Easily transferrable
Trackablein accounting systems,[object Object]
Monetizing future property taxes?,[object Object],How does that work?,[object Object],[object Object],AND,[object Object],[object Object],[object Object]
Example: Monetizing property tax credits…,[object Object],Why would a contractor accept “property tax credits” as payment for a project?,[object Object],[object Object]
 it will improve the balance sheet’s ‘current assets’
 there is no other “cash” work available,[object Object],[object Object]
A local rental firm accepts $2000 in PTCs for equipment
A service station exchanges $500 in gas cards for PTCsRemaining PTC’s remain ‘as credit’ against future taxes with the county assessors office,[object Object]
Example: Monetizing property tax credits…,[object Object],The real stimulus  is the additional economic activity generated,[object Object],For sidewalk work, contractor accepts $5000 in PTCs,[object Object],Contractor buys $1000 in gas cards from local station, and $4000 toward equipment rental,[object Object],Local gas station uses $1000 in PTCs against rent.,[object Object],Rental agency uses $4000 in PTCs to augment salary,[object Object],At end of year:,[object Object],[object Object]
Rental agency staff applies their bonuses against their property taxes………..$5000,[object Object],+……..$1000,[object Object],+……..$4000,[object Object],+……..$1000,[object Object],+……..$4000,[object Object], $15,000,[object Object],From $5K in PTCs,[object Object]
Why Property Tax Credits (or PTCs)?,[object Object],[object Object]
 They can immediately improve a balance sheet as a tangible asset
They can be transferred to others as payment in kind for goods and services,[object Object]
Monetizing property tax credits,[object Object],Immediate advantages,[object Object], For the contractor,[object Object],[object Object]
 Frees up cash set aside for taxes

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How communities can stimulate their economy by monetizing property tax credits