Ray From Cleveland
Diamond Member
- Aug 16, 2015
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The bulk of the subsidy is a planned $188.2 million property tax abatement of 71 percent over 20 years
Why does every other company in the area have to pay the full property tax, and Apple doesn't?
Who says every other company is?
Cities and states offer abatements to attract businesses. They create jobs and new taxation for the city and state.
They are allowing 71% reduction meaning that they are collecting 29% of taxes they would not otherwise collect if the land were to sit there. That's 2,000 acres that they will be paying that 29% on. That's a hell of a lot of money.