Every year, the City Council gets a list of the 200 or so property tax breaks it has granted in return for big investments and job creation and every year there are some firms that didn’t live up to their promises.
Every year, the council approves the list anyway, and the companies all get their tax breaks.
Not this year.
There were 11 projects – companies can have more than one – that were listed as “Not in compliance,” but the council was expected to approve the entire list as being compliant so county property tax officials could calculate their tax discount and apply it to their bills.
But the council voted not to renew tax breaks for the 10 non-compliant companies, one of which had two projects and one that was co-founded by a city councilman.
This means the companies will pay their full property tax bill for 2013. It appears, however, they could come into compliance and have the discount restored. Tuesday’s vote was preliminary, and the measure must get final approval next week.
...
See the full article here:
