Tax exemptions approved on land worth more than $838M
Published: December 11,2012
PASCAGOULA — Jackson County supervisors have unanimously approved two 10-year tax exemptions for more than $838 million in true property value.
The Mississippi Press reports Gulf LNG Energy received an exemption on nearly $828.5 million, and Ingalls Shipbuilding received an exemption on nearly $9.6 million on property value.
County leaders say exemptions are granted on new investment only, and those true values represent a portion of the total capital investment made by the companies.
Exemptions apply only to a portion of county taxes. City and school taxes are not exempt, and portions of the county’s road and county general fund taxes must also be paid.
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