Franklin: Growing our tax base makes life even better

To The Daily Sun,

Fellow residents of Franklin, I have some good news, some bad news, and some great news!

First the good news. As mandated by the New Hampshire Department of Revenue Administration, we recently underwent a city-wide property value assessment. Based on a review of recent real estate transactions, they found (drumroll, please), on average, properties across the city were selling for 20 percent more than previously assessed. This is good news because the data prove people see value in our city and they’re willing to pay more to be here. As a result, our property values are growing!

Now, the bad news. Property values in our city are growing! But wait a minute … didn’t I just say that was the good news? Well, it is good news for those who look at their purchases as investments. But for those of us who love this place and want to live here for a lifetime, higher property values mean higher taxes — and no one wants that!

So, what’s the solution? We need a big’a pizza! Besides the fact that I’m Italian and everything can be related to pizza, you may ask, “What’s up with the pizza analogy?” Well, it reminds me of a Yogi Berra story when he was overheard ordering a pizza — and when asked how many slices he wanted it cut into, six or eight, he thought for a moment and said, “Make it six, I can’t eat eight.” The irony is it doesn’t matter how many slices you cut the pizza into, it’s still the same-size pie. Now, if Yogi wanted to be a real hero and have plenty of leftovers to share with his baseball buddies, all he needed to do was order a much bigger pizza. Point being, the bigger the pie, the smaller the slices and everyone still gets their fill.

In the Franklin property value scenario, even though values went up, the tax rate went down, leaving total tax revenues collected unchanged. Taxpayers had their “slices” of that revenue share get larger or smaller, but the overall “pie” stayed the same. To reduce our individual tax burdens while still growing revenues to fund our schools, public services, and road repairs, we need to add to our tax base (grow the size of our “pizza”) by inspiring redevelopment of underperforming properties and investments in new construction.

And now, for the Great News! Thanks to incentives like our City-wide Opportunity Zone, Tax Increment Finance districts, the continuing flow of significant investments from highly reputable community-focused investors, and Franklin’s “champions” made up of individuals, organizations, and institutions who have vowed do whatever it takes to complete our glorious transformation, Franklin’s tax base is growing in a big way!

That said, I need your help — and it doesn’t need to be in the form of cash investments or property improvements (although I welcome both). You can play a huge part in our revitalization by simply spreading the good news about what’s happening here. Positive word of mouth is so important, and it helps generate even more forward momentum. Proudly witnessing all the great things happening in our city, I end this editorial humming one of my favorite Disco songs: “Ain’t No Stopping Us Now”!

Mayor Tony Giunta

Franklin