THERE’S TALK OF CREATING A NEW TAX DISTRICT ON ALBUQUERQUE’S WEST SIDE. BUT THE ALBUQUERQUE JOURNAL REPORTS ECONOMISTS FOR TWO STATE AGENCIES QUESTIONED CREATING THAT WEST SIDE TAX DISTRICT ON TUESDAY. THE ECONOMISTS WITH THE LEGISLATIVE FINANCE COMMITTEE AND THE DEPARTMENT OF FINANCE AND ADMINISTRATION SAY IT WOULD MOVE SOME OF THE REVENUE FOR USE INSIDE THE DISTRICT INSTEAD OF PROVIDING IT FOR BASIC GOVERNMENT SERVICES.
THE STATE BOARD OF FINANCE STARTED THE DEBATE AFTER SPENDING FIVE HOURS REVIEWING AN APPLICATION TO SET UP THE TAX INCREMENT DEVELOPMENT DISTRICT. NO FINAL DECISION FROM THE BOARD ON THE DISTRICT THAT WOULD LET A SHARE OF FUTURE TAX REVENUE BE DIVERTED SO DEVELOPERS WHO BUILD STREETS AND OTHER PUBLIC INFRASTRUCTURE CAN BE REIMBURSED.
