Economic development, property taxes, and cost cutting are examined in an overview of how Wichita Falls can increase its revenues in seven pages. Four sources are cited in the bibliography.
Name of Research Paper File: D0_MTwicfal.rtf
Unformatted Sample Text from the Research Paper:
their doors, governments suffer their fair share of problems when times are tough. The difference between corporations and governments, however, is that governments - especially city governments - cant close
their doors during a downturn, not unless the government wants the city or town to become a ghost town. The other difference is that cities gain revenues for operation from
a tax base generated by homes and businesses in the area, rather than from creating demand for a product or service. That tax base can fluctuate, depending on the satisfaction
of home and property owners and incentives offered to businesses. When homeowners and businesses leave, a citys finances suffer to a great degree.
Wichita Falls, Texas, a medium-size city of approximately 100,000 residents located approximately 90 miles northwest of Dallas-Fort Worth is facing many of the problems of a downsized economy. Reduced
revenues and other factors are leading the mayor of the town to suggest raising property taxes in order to generate more revenue. Our contention is that a tax increase on
already high property taxes is not the answer to Wichita Falls woes and could, in fact, create more trouble. What this paper
will try to prove is that tax increases are only one way in which the town can boost its revenue base. A solid economic plan needs to be in place
to encourage growth and a steady stream of revenue. Background and Challenges Wichita Falls, located on the banks of the Wichita River,
is the county seat of Wichita County, located in the northern part of Texas near the Oklahoma border. The perception of this city, at least among other Texans, is indifference