Property Tax Abatement
Tax phase-in gives local government the option of allowing certain businesses to phase-in those new taxes that would otherwise be assessed to their property because of new building construction or the purchase of equipment new to Indiana used for manufacturing, research and development, logistical distribution and information technology.
Industrial Revenue Bonds
Industrial Revenue Bonds, also called Economic Development Revenue Bonds, provide financing for large scale economic development projects. The proceeds from the bonds, which can be issued by a local government, are loaned to businesses to pay for buildings or other capital investment projects. The bonds must be paid back by the company. As the issuer of the bonds, the local government’s participation typically results in favorable interest rates and longer terms. Most often, these bonds are tax exempt.
Tax Increment Financing
TIF districts are established through redevelopment commissions. New taxes generated as a result of development in the TIF may be used as debt service on bonds issued for the purpose of developments and improvements in the area. Proceeds from the bonds may be used to construct public infrastructure (roads, sewers, etc.), land acquisition, site improvements, and other public improvements.
Property Tax & CAGIT Financing
Marshall County and its incorporated areas may be petitioned to provide financial assistance for infrastructure improvements related to a business expansion, relocation, or attraction using property tax or CAGIT funds.