From the Fort Wayne News-Sentinel:
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Proponents of generous tax abatement policies consider the incentives a key selling point for companies deciding where to locate and a sure-fire way to produce new tax revenue on otherwise dormant property.
Critics, meanwhile, are skeptical of whether companies follow through on all their promises of investment and job creation after getting the tax breaks.
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According to city data, 31 projects got tax phase-ins last year, producing more than $75 million of investment in property and equipment and a projected 370 jobs. More than 3,800 jobs also were retained, according to the data.
City and Allen County officials also have said the two local governments need to more closely align their abatement policies and set up common standards.
“The closer aligned the city council and county council are to each other on their abatement policies, the better off we all are as a community,” County Council President Larry Brown said.
One glaring difference in the city and county policies is the fact that Fort Wayne sometimes grants tax phase-ins for retail and professional developments such as car dealerships and doctor's offices, while the county does not.
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Overall, tax abatement accounted for only a sliver of local tax incentives in 2011, according to city figures. Homestead tax deductions comprised the vast majority of incentives that were awarded, according to the data.
http://www.news-sentinel.com/apps/pbcs.dll/article?AID=/20120530/NEWS/120529552/0/SEARCH
An earlier post on this issue:
http://indianapropertytaxreporter.blogspot.com/2012/05/fort-wayne-city-council-to-reexamine.html
