Amend HP
NANCY SUCKS:
New Accountability and Necessary Change Yielding Sustainable Urban Community Key Solutions
Objective:
This proposal introduces a tiered tax framework for large-scale entities grossing over $15 million annually, operating as a cultural institution and/or an amusement entity within the city limits. The plan is designed to ensure these entities contribute fairly to the city’s financial health, environmental sustainability efforts, and educational programs. Through taxes on carbon emissions, naming rights, and amusement activities, the proposal will significantly increase revenue, adding approximately 5% to the city’s annual budget. This additional revenue will strengthen Highland Park's financial stability and provide resources for key initiatives.
Furthermore, the plan includes an increase in the Mayor's and the Councilmembers’ salaries, recognizing that the city needs to attract strong leadership to meet its future challenges. By offering competitive pay, Highland Park can ensure it receives the high-quality leadership it requires, moving beyond the limitations of the current compensation, as "you get what you pay for." Existing agreements with qualifying entities will be honored, with full tax implementation deferred until their expiration.
Section 1: Carbon Emissions Tax ($130 per metric ton)
Section 2: Naming Rights Tax (1%)
Section 3: Amusement Tax (12%) + Property Tax Equivalent
Section 4: Restructuring of City Manager's Salary
Section 5: Redistribution of Funds
***This redistribution ensures that the mayor receives a more competitive salary for their leadership role while also fairly compensating the city council members. Furthermore, this restructuring not only supports leadership in a fiscally responsible manner but also enhances public participation by investing in improved communication technologies for City Hall meetings.***
Side-by-Side Comparison of Revenue
**Using Ravinia Festival as ONLY an example**
**Based off an average of $35,000,000 in annual revenue as only an example**
Revenue Stream | Current (Before New Taxes) | New Taxes (Before Agreement Expiration) | Amusement Tax (After Agreement Expiration) |
---|---|---|---|
5% Admissions Fee (Example) | $1,750,000 | $1,750,000 | N/A |
Carbon Emissions Tax | N/A | $210,600 | $210,600 |
Naming Rights Tax | N/A | $350,000 | $350,000 |
12% Amusement Tax | N/A | N/A | $4,200,000 |
Property Tax Equivalent | N/A | N/A | $1,400,000 |
Total Annual Revenue | $1,750,000 | $2,310,600 | $6,160,600 |
% of City's Budget | 1.4% | 1.95% | 5.22% |
Conclusion
This tax proposal offers Highland Park a transformative opportunity to create a fair and sustainable revenue stream from large-scale entities generating over $15 million annually. By implementing this tiered tax structure, the city will ensure that these entities contribute equitably to Highland Park’s financial well-being. While certain taxes may be deferred due to existing agreements, the full tax structure will take effect once those agreements expire, guaranteeing long-term stability for the city.
With this plan projected to contribute over 5% of the city’s annual budget, it will significantly bolster Highland Park's fiscal resilience. Furthermore, by efficiently allocating funds, including providing a competitive salary for the Mayor’s position along with all councilmembers, the city is ensuring strong leadership and a continued commitment to fairness, sustainability, and the prosperity of its community.
The proposal urges the Mayor and City Council to adopt these changes and lead Highland Park toward a more financially secure future, benefiting not just the government but the citizens it serves.