As a dedicated member of New Castle's small business community, I witness every day the challenges that local businesses face in making ends meet. Many hardworking individuals in our community are already stretched thin with rising costs, and this proposed tax on rents (SB-127) will only exacerbate their struggles.

SB-127 seeks to amend the New Castle City Charter to allow the imposition of up to a 5% tax on gross rents for properties within the city limits. While it's stated that federally, state, and city-subsidized rental properties are exempt, this tax could deliver a severe blow to both residential and commercial rental markets. Property owners would likely pass these additional costs onto tenants, increasing rent prices for individuals, families, and small businesses alike.

For instance, small businesses, which are the backbone of our local economy, stand to suffer greatly. Higher rents mean reducing staff, cutting back on growth opportunities, or even facing closure. Similarly, residential tenants, including families and individuals who receive no such housing subsidies, will see their expenses grow, potentially pushing them closer to financial instability.

Our city prides itself on its vibrant community and prosperous local economy. By enacting SB-127, we risk destabilizing the livelihoods of many and stalling the economic growth we've worked hard to achieve. There are more effective ways to generate revenue without jeopardizing the livelihood of our fellow residents and business owners.

We must come together to urge our legislators to vote AGAINST SB-127. Let's protect our small businesses, our families, and our community at large. Please, join me in standing up for a prosperous and equitable New Castle by signing this petition to oppose this detrimental rent tax.