GREENVILLE —
Two local industries are in line to receive exemptions on the taxes they pay for storing “goods in transit.”
The Greenville City Council is set to vote Tuesday on granting freeport tax exemptions and instead accepting a payment in lieu of taxes (PILOT) for AB Mauri Food and Masonite. The vote is scheduled during Tuesday’s regular session, starting at 6 p.m. in the Municipal Building, 2821 Washington Street. A work session is set for 5 p.m. Tuesday.
Greenville Board of Development Chief Executive Officer Greg Sims approached the Council earlier this year, asking the Council to join with the Greenville Independent School District and Hunt County in a “Partnership Freeport Plan.”
Under a freeport exemption, goods which are shipped either inside or outside the state within 175 days are exempt from taxation, but only if the goods are kept in a location which is not under the control of or owned by the manufacturer of the goods.
Sims noted that many area cities, counties and governmental agencies with whom Greenville competes — including Rockwall, Farmersville, McKinney and Terrell — have already passed the exemptions.
He cited two recent examples where Greenville would have benefited from the exemption, both involving companies interested in taking over the former Newell-Rubbermaid facility.
In a memo to the Council, Sims explained there would was expected to be no financial impact to the City of Greenville under the plan during 2013 or 2014, with an estimated cost to the city of $217,647 in the third year.
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City Council to consider freeport exemptions for local industries
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