Incentives: Tax Abatements

Local government tax incentives.
The cities and county are authorized to negotiate with individual taxpayers who have qualifying new business facilities: (a) an incentive payment equal to not more than the amount of the increase in property tax liability over pre-enterprise zone levels; and (b) a refund of local sales taxes on purchases of equipment, machinery, machine tools, or supplies used in the taxpayer's business in the enterprise zone.

Most commonly, local governments will negotiate up to a 50 percent tax refund on personal property tax for four years, and up to a 100 percent refund on real property tax for four to ten years.

Customized Proposal
The Morgan County Economic Development Corporation assists new and expanding businesses in completing incentive applications for local and state incentives. One of the requirements is an Economic Impact Analysis to measure the costs and benefits of investment in new business activity. For an estimate of the value of incentives for which your business qualifies, contact MCEDC.

• Local government tax incentives
  
  
• Customized Proposal