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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 JurisdictionGwinnett County
Jurisdiction type: County
Fiscal year ending In2019
Program nameBonds for Title Program
Program purpose: Job Creation/Retention
Statutory authority: Gwinnett County Economic Development Ordinance Section 2-151, et. seq.
Abating jurisdiction(s): Gwinnett County, Georgia
Applicable taxesProperty Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: If the business relocates, the full value of any and all abatements received pursuant to the ordinance will be reimbursed to the County or issuing Authority. Should the business fail to meet fiscal impact, income, or employment requirements, there will be a 20 percent reduction in the abatement to be received for the first such year. If requirements are not met for more than one year, there will be a 50 percent reduction for the second such year. A third year of non-attainment of requirements will result in a termination of the abatement pursuant to the Ordinance.
Gross revenue loss: $648,421
Reimbursement / offset: $0
Net revenue loss: $648,421
Type of loss: Active
Additional notes on dislosureentered into by Gwinnett County Development Authority
Document sourcehttps://www.gwinnettcounty.com/web/gwinnett/home/citizenfinanceguide/fin...