The Town Board has finally assembled a committee to review Yorktown’s commercial development tax exemption. The law exempts the increased value of commercial property from taxation, starting at 50% and declining over 10 years. Residents have been asking for this review for years, wanting to know whether the exemption is a tax giveaway or a genuine driver of economic growth.
At the June 2 Town Board meeting, members discussed what criteria the review should include. The conversation got heated fast. Accusations of “preconceived notions” flew across the dais, and the preconceived notions themselves were on full display, on both sides.
Councilman Esposito opened by saying he wants “subjective measures” included in the review, citing “excitement in town” as an example. When pressed, he pointed to revenue, traffic drawn into town, and business generated with other establishments. Councilman Gilbert was right to push back: none of those measures is actually subjective. They may be difficult to quantify, especially before-and-after comparisons, but they are measurable.
Here’s one simple approach: station volunteers in front of stores that received the exemption, like those at Yorktown Green, and ask shoppers whether they visited any other businesses during the same trip. Not scientific, but enough to generate meaningful anecdotal evidence about whether these stores drive foot traffic and boost the broader local economy. As a bonus, it might also point us toward strategies for strengthening local business overall.
Supervisor Lachterman suggested tracking infrastructure improvements paid for by these businesses, calling the total “a lot.” That remains to be seen.
The core question is straightforward: Does the tax exemption generate more revenue than it costs? To answer it honestly, we need the data outlined above. But the most important question may be harder to answer: Would these businesses have come to Yorktown without the exemption?
To get at that, we should look at comparable communities, with and without the exemption, and examine how commercial development compared. Not a perfect methodology, but actionable enough to inform a real decision about whether this policy benefits Yorktown’s bottom line, or whether it’s simply a giveaway.
We all have preconceived notions. The question is whether we’re willing to challenge them.