Biotech seed giant Monsanto and Pima County are negotiating a possible incentive package that would substantially reduce the property tax burden of a planned Monsanto greenhouse in the Avra Valley.
The basis on which the greenhouse parcel’s tax bill is determined would be reduced by two-thirds under the proposal.
A statewide tax research group opposes such incentives as unfair to other taxpayers, but County Administrator Chuck Huckelberry says that in the long run, business incentives can reduce other taxpayers’ burdens. The new business, in this case Monsanto, would still bring in significant additional tax revenue.
The Arizona Tax Research Association says, however, that the state should lower tax-assessment ratios for all property owners rather than give some companies tax breaks, which it calls picking “winners and losers.”
An environmental activist group, Rising Tide Tucson, has announced it will fight tax breaks for Monsanto.
Read more here: http://tucson.com/news/local/govt-and-politics/monsanto-could-get-big-ta...