County to consider tax break for Holt company (DOCUMENT)

edc economic development council nwfdn
FILE PHOTO | Northwest Florida Daily News
Published: Tuesday, January 8, 2013 at 16:24 PM.

 

HOLT — The Economic Development Council of Okaloosa County has proposed a five-year property tax abatement for a Holt business looking to expand its operations.

Okaloosa County commissioners are scheduled to discuss the tax break Tuesday at their meeting in Crestview.

Under the proposal, the company would get a $45,000 abatement on tangible personal property taxes from 2014 to 2018. The abatement would apply only to tangible personal property not currently on the tax rolls.

The EDC has asked the county to pay $9,000, or 20 percent, of the tax break while the state would pay the remaining $36,000, or 80 percent.

Read a copy of the agenda request and other documents.

 The state arrived at the $45,000 total by allocating $3,000 for each of the 15 new jobs the company has said it would add.



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