Tax Exemption Warrant Article
The Economic Development Committee (EDC) has completed a major project that may result in an economic resurgence in Allenstown. When the state legislature passed a statute in 2017 that allowed cities and towns to offer a tax exemption to commercial and industrial businesses, the selectmen encouraged the EDC to develop a proposal to implement it.
Starting in September, the EDC studied and discussed the details in the statutes and hammered out a plan that included a sliding scale of exemptions over 10 years, a list of benefits for the town and taxpayers, and an example of how a business and the town would both benefit economically.
The proposal's opening statements are the most compelling:
"The purpose of this article is to give business owners a strong, compelling reason to either open shop in Allenstown or expand an existing Allenstown business. More businesses mean more tax revenue from those businesses and potentially lower taxes for residents. By adopting this warrant article, it is possible that Allenstown will derive a strong, economic advantage compared to other towns."
After receiving the selectmen's approval of the proposed warrant article, and approval of an explanation for the 2018 Voter's Guide, the material was reviewed by the town attorney. The tax exemption warrant article and explanation now appear as Warrant Article 14 in the Voter's Guide.
What You Can Do
1. Read the material on Article 14. See the link on the right.
2. Vote YES on Article 14!