The Albuquerque Journal isn’t as anti-tax as its liberal critics believe — it favors a hike in New Mexico’s gas tax, for example — but today’s editorial convincingly demolishes the case for a GRT increase dedicated to the BioPark’s “infrastructure.”
The paper notes that traditionally, “capital projects are financed with bonds, which are paid off with property taxes, earmarked for specific projects, run for a set duration and then retired.” It also suggests other revenue-raising tools, such as raising the admission fee for adults, given that the current charge “is $3 less than El Paso charges, $8 less than Denver and $11 less than Phoenix.”
One issue the Journal didn’t examine is the long-range trend of Albuquerque’s GRT. Between January 2000 and January 2015, it rose by 20.4 percent:
Other cities and towns in the region imposed stiffer hikes, but don’t forget that Bernalillo County’s GRT increase goes into effect in less than a month.