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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.

Effected JurisdictionCity of Augusta
Jurisdiction type: Municipality
Fiscal year ending In2020
Program nameTax Allocation Districts
Program purpose: General Economic Development
Statutory authority: Redevelopment Powers Law (Art. IX, Sec. II Para. VII of the Georgia Constitution as amended
Abating jurisdiction(s): City of Augusta
Applicable taxesSales Tax; Property Tax
Method of abatement: Tax Increment Financing (TIF)
Provisions for recapture: NA
Gross revenue loss: $1,830,345
Reimbursement / offset: $0
Net revenue loss: $1,830,345
Type of loss: Active
Additional notes on dislosureTax abatements do not begin until all development agreements have been satisfied and as such, current agreement do not have provisions to recapture previously abated taxes.
Document sourcehttps://www.augustaga.gov/149/Financial-Statements