New study by SSA Marine shows ‘significant’ tax increase from GPT
The Bellingham Herald – October 22, 2012 – Ralph Schwartz
The Bellingham Herald is reporting tonight that a newly released study by SSA Marine claims a significant impact on the local economy and tax base from construction and operation of a coal export terminal proposed for Cherry Point. The study was produced by the Redmond-based financial consultant FCS Group and relied on the job numbers in a previously commissioned SSA study by Martin and Associates.
If the Gateway Pacific Terminal is completed, the $665 million facility would be the second largest property taxpayer in the county, after BP Cherry Point, according to the study.
Much of the $7 million in annual property taxes paid by Gateway Pacific Terminal would not be new revenue but rather a tax reduction for other property taxpayers. That’s because property tax collections by cities, counties and school districts are generally fixed.
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