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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.

StateGeorgia
Effected JurisdictionCobb County
Jurisdiction type: County
Fiscal year ending In2019
Program nameTaxable Revenue Bond Financing
Program purpose: Job Creation/Retention
Statutory authority: Title 36 Chapter 62 of the Official Code of Georgia
Abating jurisdiction(s): Cobb County, Georgia
Applicable taxesProperty Tax Real and Personal Property Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: There are provisions for recapturing some portion of the value of these incentives in the event capital investment and job creation numbers are not met during the incentive period; however, the Development Authority can immediately return title to a company for a non-performing project, which cancels the incentive going forward. There are no amounts receivable from other governments.
Gross revenue loss: $2,326,556
Reimbursement / offset: $0
Net revenue loss: $2,326,556
Type of loss: Active
Additional notes on dislosureentered into by Development Authority of Cobb County
Document sourcehttps://www.cobbcounty.org/finance/annual-comprehensive-financial-reports