County loses revenue from pipeline, Section 42 housing
Published: February 4,2014
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.
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