It was reported in the news media that Costco paid a whopping $8,550,000 for its future chicken processing plant site in Fremont.
In the beginning Costco told our city leaders the proposed project could not fly without local tax breaks.
Our local elected officials approved Costco’s request and declared the Hills Farm area to be a sub-standard blighted area which would qualify the site for tax-increment financing.
If Costco is willing to pay $20,600 an acre for sub-standard farmland, which is over three times the average price for farm land in east-central Nebraska, Costco should be expected to pay their fair share of local taxes.
To allow Costco’s local tax burden to be place on the backs of local taxpayers for 15 years is “fowl play.”
Who is feeding the dog to waggle its tail?
Good luck to local land owners on a future land value adjustment for tax valuations.
Robert L. Warner