From the Shelbyville News:
The Shelbyville Common Council voted 5-0 to give Plastic Moldings Company an abatement on taxes for new equipment.
The measure, if passed on a second reading, will abate the property taxes on $529,000 worth of new equipment on a sliding scale over a period of 10 years. The first year will be a 100 percent abatement, which will decrease in percent each year for 10 years until the company pays the full amount of taxes on the equipment.
The equipment will be used to expand the company’s medical device division. PMC makes parts for medical devices as well as parts for automobiles.
The company was supposed to have gotten the abatement last week, but didn’t have the proper paperwork filed.
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http://www.shelbynews.com/articles/2013/08/21/news/doc52140e722b235247382050.txt
