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.
| State: | South Carolina |
| Effected Jurisdiction: | Cherokee County School District 1 |
Jurisdiction type: | School district |
| Fiscal year ending In: | 2019 |
| Program name: | Fee-in-Lieu of Tax Program (FILOT) |
| Program purpose: | Business attraction/retention/expansion |
| Statutory authority: | South Carolina Code Title 12, Chapter 44 and Title 4, Chapter 12 |
| Abating jurisdiction(s): | Cherokee County |
| Applicable taxes: | Property Tax |
| Method of abatement: | Reduction of assessment, millage rate, and millage rate changes |
| Provisions for recapture: | Under the Fee in Lieu of Property Tax Tax program, if a taxpayer does not make the required investment within the 5 year period, then the reduced Property Tax terminate and the taxpayer must repay Cherokee County the difference between the abated taxes received and what the taxpayer would have paid had it not had the benefit of the Fee in Lieu of Property Tax Tax program |
| Gross revenue loss: | $7,135,740 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $7,135,740 |
| Type of loss: | Passive |
| Additional notes on dislosure: | 25 beneficiaries |
