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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionFranklin City School District
Jurisdiction type: School District
Fiscal year ending In2019
Program nameEnterprise Zone Agreements
Program purpose: General Economic Development
Statutory authority: (not specified)
Abating jurisdiction(s): City of Middletown
Applicable taxesReal Property Tax
Method of abatement: Payment In Lieu of Taxes (PILOT)
Provisions for recapture: If the actual number of employee positions created or retained by the business in any three-year period during which the agreement is in effect is not equal to or greater than seventy-five percent of the number of employee positions estimated to be created or retained under the agreement, the business shall repay the amount of taxes on property that would have been payable had the property not been exempted. In addition, the local governments may terminate or modify the exemptions from taxation granted under the agreement if the terms of the agreement are not met.
Gross revenue loss: $59,268
Reimbursement / offset: $0
Net revenue loss: $59,268
Type of loss: Passive
Additional notes on dislosureReimbursement is reported for enterprise zone and income tax abatements together. As the latter is unknown, the reimbursement is not included here.