Local Tax Incentives

Local Tax Incentives and Assistance

Local governments impose property tax on real and personal property. Assessment values are 40% of real property and 30% of personal. Local governments impose a personal property tax on inventory consisting of raw materials only. Goods in process and finished goods inventory are exempt.  Some local governments are able to offer in lieu of tax payments to companies in startup situations.

Local assistance will vary by community and may include an abatement of local taxes through a Payment in Lieu of Tax (PILOT) or other local programs.