If the Xerox takeover by Fujifilm leads to job relocation or job cuts in its current location of Webster, it could leave a significant tax base loss for the area.
If the Xerox takeover by Fujifilm leads to job relocation or job cuts in Webster, it could leave a significant tax base loss for our area.
The Xerox takeover by Fujifilm announced early Wednesday morning leaves uncertainty about the company's future in Webster.
Both companies will merge into Fuji Xerox, with Fuji holding a majority stake in the company.
Xerox has a huge impact on schools in Webster. The company is the single biggest property taxpayer in the town.
In 2017, Xerox paid more than $2.3 million in property taxes to the Town of Webster, Monroe County and the Webster Central School District.
Webster schools received $1.3 million. If you take the average teacher salary in Webster, $1.3 million pays for 20 teachers a year.
Xerox threatened to sue the town over its assessments five times in five years. So now the company pays a lot less property tax than it did in the past.
In 2017, Xerox paid $2.3 million in property taxes, down from $3.1 million in 2011.
The corporate decisions could affect more than share price and employees. They can also affect teachers, the children in their classrooms and everyone else in Webster who pays school tax.