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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.

StateSouth Carolina
Effected JurisdictionCherokee County School District 1
Jurisdiction type: School district
Fiscal year ending In2020
Program nameFee-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 taxesProperty 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: $1,228,720
Reimbursement / offset: $0
Net revenue loss: $1,228,720
Type of loss: Passive
Additional notes on dislosure25 beneficiaries