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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 JurisdictionRichland County
Jurisdiction type: County
Fiscal year ending In2022
Program nameFee in Lieu of Taxes (FILOT)
Program purpose: General Economic Development
Statutory authority: Chapter 4, Title 12 of the Code of Laws of South Carolina, 1976
Abating jurisdiction(s): Richland County
Applicable taxesProperty Tax
Method of abatement: Tax Abatement
Provisions for recapture: If the taxpayer does not make the minimum investment in a project within the 5-year period as described above, then the agreement is automatically terminated. On termination, the taxpayer is obligated to pay to the County the difference between (i) the total amount of ad valorem property taxes that would have been paid by the taxpayer had the economic development property associated with the project not been subject to the agreement, taking into account exemptions from property taxes that would have been available to the taxpayer, and (ii) the total amount of fee-inlieu of ad valorem property tax payment made by the taxpayer with respect to the economic development property associated with the project
Gross revenue loss: $3,990,193
Reimbursement / offset: $4,153,735
Net revenue loss: $0
Type of loss: Active
Additional notes on dislosureAmount abated includes SSRC and FILOT program
Document sourcehttps://www.richlandcountysc.gov/Portals/0/Departments/Finance/CAFR/ACFR...