Jun
16
2021

Tax Abatements in Context, #1: South Carolina’s Poor Pay More

While hundreds of millions of dollars are lost each year to incentives, 61 of the 81 public school districts in South Carolina remain underfunded. At an average salary of $50,395 in 2019, the $423 foregone revenue could have hired 8,394 teachers. Several poor districts could close their funding gap simply if the counties stopped abating schools' taxes.

Mar
17
2021

Sunshine Week: How corporate subsidies harm our youngest community members

For decades, the public had no meaningful way of knowing how much schools lost via government subsidies given to corporations as part of “economic development”. We could reasonably assume it was substantial: property taxes are the biggest source of public school funding, so giving corporations a pass on paying some or all of it inevitably hits schools the hardest.

Sep
15
2020

South Carolina Public Schools Lost $423 Million to Corporate Tax Breaks in FY 2019

Public school districts in South Carolina lost $423 million in property tax revenues during the 2019 fiscal year, due to tax abatements county governments granted to corporations. That’s an increase of $99 million – or 31 percent – compared to just two years earlier, according to a new Good Jobs First report released today: “The Revenue Impact of Corporate Tax Incentives on South Carolina Public Schools.”

Jul
2
2020

These States Are Missing A Lot of Tax-Break Disclosure Data – Is It Non-Compliance?

Tax abatement disclosures often need to be enforced at the state level. We have isolated a few states that have abnormally low disclosure rates among their local governments. Is there underreporting going on? Is underreporting a statewide problem?

Jun
29
2020

Nine Common Reasons Governments Decline to Provide Tax Abatement Disclosures

For local governments, acknowledging GASB Statement No. 77 on Tax Abatement Disclosures is not a bad start, but not disclosing the amount of taxes abated is bad for transparency. This blog exposes the common "excuses".