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Economic Impact of Gallagher Amendment
Has any of our state economists or economic development groups come up with any projections regarding whether a significant bloc of development was lost to another state as a result of the Gallagher Amendment? I know municipal and city fire protection and other services have been limited by the ratio, but is there any data regarding lost revenue as a result of Gallagher, or would that be too difficult to quantify?
Specifically, it seems that in many counties in the state that are already hurting for new development and revenue would be even less attractive for new businesses looking to move into the state if the ratio of residential property eclipsed business property in various rural areas. Are there any specific cases of a county losing new development to other counties or states as a result of their residential-to-property levels?