❌ SB307
Allow tax increment financing for police, firefighting facilities
Summary
The bill amends section 5709.40 of the Revised Code to allow tax increment financing for police and firefighting facilities, enabling municipal corporations to declare improvements to certain parcels as a public purpose and exempt them from taxation for up to ten years, with potential extensions. The bill outlines criteria for creating incentive districts, including income and unemployment thresholds, and mandates public hearings and notifications to property owners within proposed districts.
Rationale
The bill increases government control over property through tax increment financing and allows for exemptions from taxation, which conflicts with the Libertarian principles of minimal government intervention and protection of property rights. Both the LP and LPO platforms oppose government actions that infringe on individual rights and property ownership.
Risks and Concerns
- Increased government control over property
- Potential for cronyism in funding decisions
- Erosion of property rights through taxation exemptions