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 or Territory: | Connecticut |
Effected Jurisdiction: | City of Bridgeport |
Jurisdiction type: | Municipality |
Fiscal year ending In: | 2021 |
Program name: | Economic Development Tax Abatement Program |
Program purpose: | Job Creation/Retention |
Statutory authority: | City Council Approved Agreement Resolution under CT Statute 32-70 |
Abating jurisdiction(s): | City of Bridgeport |
Applicable taxes: | Real Property Tax; Personal Property Tax |
Method of abatement: | (not specified) |
Provisions for recapture: | Abatement must be limited in duration and generate more taxes eventually than original property value. |
Gross revenue loss: | $3,614,941 |
Reimbursement / offset: | $0 |
Net revenue loss: | $3,614,941 |
Type of loss: | Active |
Additional notes on dislosure: | (none) |
Document source: | https://www.bridgeportct.gov/content/341307/341403/343324.aspx |