The Economic Development Council (EDC) of the Azle Area Chamber of Commerce is encouraging Azle voters to vote “YES” on a proposed Municipal Development District (MDD) in the portion of Azle that lies within Tarrant County.
According to a document prepared by the EDC, the one half of one percent (.005 percent) sales and use tax that would be imposed with the creation of such a district would generate an estimated $285,000 annually that could be used to prepare infrastructure to attract commercial businesses to the Tarrant County area of Azle and to finance development projects beneficial to the district.
The proposed tax equates to 50 cents for every $100 an individual might spend that is subject to sales tax.
Infrastructure upgrade examples could include developing water and sewer service, assisting storm water drainage projects, and/or offer low-cost land or buildings.
The EDC document highlights the positives of creating a Municipal Development District:
A small cost to us, the property-owning taxpayers of Azle. It is only one half of one percent for every dollar spent that is subject to sales tax. That means that we spend another $.005 on every dollar or $0.50 on every $100 subject to sales tax.
A savings to us, the property-owning taxpayers of Azle. This will allow non-residents to help us support and maintain the infrastructure of the city. Taxpaying property owners realize a savings in reduced cost to them.
It is a fact that every person who buys something in Azle, resident or not, pays the sales tax. Consider that the population of the City of Azle is just over 11,000 while more than 35,000 live in the surrounding areas and that does not consider the ones that travel through Azle each and every day. Of the estimated additional revenue that is generated, 75 percent or $214,000 would be from those not owning property in Azle.
Reduces the tax burden on the property-owning taxpayers of Azle. It reduces the amount of ad valorem taxes needed to maintain the city, and therefore effectively reduces the tax requirements on city property owners that are mounting as the city infrastructure deteriorates.
The EDC has adopted the slogan “Keeping Pace with Progress While Preserving the Rich Heritage of Our Past.” and expresses its support of actions that promote business and community growth and development four ways:
1. promoting economic programs designed to strengthen and expand the income potential of all businesses;
2. increasing infrastructure functionality and aesthetic values of the community;
3. encouraging job-creating investment that ensures continued economic vitality in the Azle area and attracts new business development;
4. helping upgrade or repair the declining infrastructure of the city where it would support economic development projected.
“We support actions that will increase the tax base of the City of Azle and reduce the tax burden on the citizens of Azle,” the EDC document states. “We urge voters to vote “FOR” the Municipal Development District.