County loses revenue from pipeline, Section 42 housing

PASCAGOULA — Jackson County is taking an unexpected hit in revenue with a recent drop in the assessed value of a major pipeline and a loss in tax revenue from federally subsidized housing.

The Sun Herald reports a state tax appeals board ruled in favor of the owners of the Destin Pipeline, and lowered its assessed value by about $1.5 million in December.

The county financial department says that translates to a loss of $105,000 in county tax dollars and about $50,000 each for the Moss Point and Jackson County school districts.

The Section 42, federally subsidized housing, issue also is expected to cost the county around $174,000 this year and may require the county, cities and schools to return $1.5 million in taxes.

[RSS Feed] []

To sign up for Mississippi Business Daily Updates, click here.



Top Posts & Pages