MEDFORD, Ore. – Aside from the protesters outside the Walmart, and the shoppers inside, the new store has a bigger impact. The doors are open, parking spaces are hard to come by and shoppers are leaving with carts full of merchandise. The economic impact of the new Walmart opening goes further than the cash register.
The value of the new Walmart is projected by Jackson County assessors to be worth $15 million; $9 million will be taxable. This will result in between $140-145,000 in annual taxes from the Walmart. Added with the property value this will result in a total of between $220-250,000 annually.
Exact numbers for taxes on the new Walmart won’t be known until about this time next year. However, the Eagle Point Walmart is similar in square footage, amenities and quality, so projections can be made based off of its taxes.
“It actually goes to any district that is in that tax rate. This is in the city of Medford, so the city of Medford will benefit, Jackson County, Medford Schools, RVTD, RCC and more,” explains Josh Gibson, the Jackson County Assessor.
The bulk of the tax revenue won’t be seen until 2013 because there was little, if any, construction prior to January 1st of this year. Early projections have Jackson County receiving an additional $17,000 and Medford schools will receive an additional $38,000 annually.