Wal-Mart Fights Paying Fair Share of Property Taxes

[Omaha Steve]

http://blog.aflcio.org/2007/10/11/wal-mart-fights-paying-fair-share-of-property-taxes/

by James Parks, Oct 11, 2007

A new report shows Wal-Mart—the world’s largest retailer, which made nearly $12 billion in profits last year—is squeezing money out of local communities by trying to reduce its property taxes, the main source of revenue for schools, roads, police and fire protection.

The giant retailer has sought to reduce the property taxes it pays on 35 percent of its stores and 40 percent of its distribution centers, according to a report by the nonprofit research group Good Jobs First. In fact, Rolling Back Property Tax Payments, estimates the company has filed more than 2,100 property tax challenges nationwide. Click here for the full text of the report.

Good Jobs First Executive Director Greg LeRoy says:

Wal-Mart’s frequent poor-mouthing of its properties makes the company appear hypocritical. When it meets opposition to a new store, the company claims it will bring economic benefits to the community, which would normally be reflected in higher property values. Yet, in these assessment appeals, the company routinely argues that the value of its properties has declined. Unwittingly, Wal-Mart appears to be confirming the argument often raised by neighborhood groups that the construction of one of the company’s giant stores will reduce property values.

These systematic property tax challenges are part of a larger pattern of state and local tax avoidance by Wal-Mart. We have shared many of the ways Wal-Mart drains money and resources from local communities, including taking 39 state and local government economic development subsidy deals worth more than $200 million in just the past three years.

Studies also have detailed how a large number of Wal-Mart workers are paid poverty-level wages and how the retail giant’s lack of affordable health care coverage forces many of its workers to apply for public health care assistance, which adds considerably to the tax burdens of communities in which stores are located.

FULL story at link.

[PetrusMonsFormicarum]

1. Our lives

would be no less fulfilled

IF WAL-MART HAD NEVER BEEN.

Since Wal-Mart is, however, our communities are poorer, the quality of durable goods and everyday necessities has plummeted, local business infrastructure has collapsed.

Wal-Mart: A Celebration of Mediocrity.

Please join me in never patronizing these establishments.