Show-Me How H&R Block TIF Stays Losing Money For Kansas City

The H&R Block building in downtown Kansas City enjoys longstanding and EPIC subsidy. 

This missive reveals how our cowtown continues to lose out in the long run . . .  

"According to the latest report from the Missouri Auditor’s office, as of April 2023, this subsidy has redirected $23.5 million in property taxes and another $73.4 million in sales and earnings taxes away from the basic services they would have otherwise supported (schools, roads, libraries, etc.), instead sending the money back to the developer.

"GFT moving into the H&R Block building means that a portion of the taxes it pays, most notably the 1% earnings taxes levied on each employee, will now also be redirected away from basic services to the developer to pay down the cost of the H&R Block building.

"A lot of time is spent talking about how Kansas City loses revenue when businesses leave the city. We need to remember that due to our generous subsidy culture, we often lose revenue even when companies remain."

Read more via www.TonysKansasCity.com link . . .

Show-Me Blog: The TIF that Keeps Taking