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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 Montgomery
Jurisdiction type: Municipality
Fiscal year ending In2018
Program nameVarioius economic development programs
Program purpose: General Economic Development
Statutory authority: Tax Reform Act of 1992 (Chapter 9B, Title 40, Code of Alabama 1975) and The Alabama Reinvestment & Abatements Act (Chapter 9G, Title 40, Code of Alabama 1975).
Abating jurisdiction(s): Montgomery, Alabama; Development Board of the City of Montgomery; City of Montgomery Downtown Redevelopment Authority
Applicable taxesProperty Tax
Method of abatement: Reductions of assessed values
Provisions for recapture: Some
Gross revenue loss: $1,808,072
Reimbursement / offset: $0
Net revenue loss: $1,808,072
Type of loss: Active
Additional notes on dislosureProperty taxes are abated through reductions of assessed values. Sales and use taxes are abated through exemptions granted on purchases for specified construction or equipment-purchase purposes. Some agreements provide for the repayment to the City of abated amounts if the entity ceases to operate its business for a certain length of time or fails to produce a certain level of employment.
Document sourcehttps://www.montgomeryal.gov/city-government/mayor-s-office/financial-re...