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This year, Company LI built a light industrial facility in County G. The assessed property tax value of the facility is $20.5 million. To convince
This year, Company LI built a light industrial facility in County G. The assessed property tax value of the facility is $20.5 million. To convince Company LI to locate within its jurisdiction, the county abated its 4 percent property tax for the year. Because of the local economic boom created by the new facility, the aggregate assessed value of County Gs property tax base (including the LI facility) increased by $23.6 million. Compute the net effect on County Gs current year tax revenue from the abatement.
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