TAX ABATEMENT:
The deduction is 100% in the first year and declines by a specified percentage every year thereafter. Tax Abatement is available for a one to ten year period for real property, new manufacturing equipment and new research and development equipment.
2005-2006 Floyd County Abatements for Personal Property and Real Estate
4-L Company of Carmel ...............................$210,000
Anderson Rentals, LLC .................................$33,350
Jesse Ballew ....................................................$71,210
Jesse Ballew ....................................................$4,850
Booth Acquisition, LLC ..................................$77,590
Carl F. Booth & Co. .........................................$134,260
Cardinal Printing Inc. ....................................$120,590
Carisle Family, LLC .......................................$287,500
Carisle Family, LLC .......................................$130,520
Forms America ..............................................$45,130
Clark Foods Inc. ............................................$63,150
Clark Foods Inc. ............................................$171,580
Clark Foods Inc. ............................................$398,400
Community First Holding, Inc. ...................$15,620
Michele Cundiff .............................................$42,700
Develco Properties, LLC...............................$1,984,450
Discount Labels, Inc. ....................................$125,070
Discount Labels, Inc. ....................................$135,980
Earth Space, LLC ..........................................$390,000
Earth Space, LLC ..........................................$188,340
Billie & Gloria Faith Living Trust ...............$24,840
L&D Mail Masters ........................................$747,420
L&D Mail Masters ........................................$180,150
Flint Ink NA Corp. .......................................$140,870
Foam Fabricators, LTD ..............................$13,620
Foam Fabricators, LTD ..............................$7,700
Richard & Kelly Fust ...................................$1,749,200
John & Alice Garrett ...................................$58,690
General Mills Inc. ........................................$325,640
General Mills Inc. ........................................$5,272,050
GTC Properties, LLC ..................................$315,280
Glen Hancock ...............................................$44,880
Hitachi Cable Inc. ........................................$205,150
Hunciliman Enterprises .............................$205,430
Hunciliman Enterprises .............................$304,950
Ideal Woods Product ..................................$288,860
Jones Popcorn Inc. .....................................$74,210
Kempco Inc. ................................................$12,150
Kessans & Kessans Properties Ind. .........$89,600
Koetter Development Inc. ........................$33,730
Koetter 4 Properties, LLC ........................$348,000
Robert E. Lee Investors, LLC ..................$88,640
Mary & Louis Lukemeier .........................$390,320
Lukemeier Enterprizes ............................$322,940
Mark & Cynthia McCormick ...................$44,200
McDonald Marble & Stone ......................$508,420
McDonald Marble & Stone ......................$140,380
Metal Sales Mfg.Corp. .............................$88,730
Meyer Ventures, LLC .............................$2,260
Morency Real Estate, LLC .....................$111,200
Elizbeth Northern ....................................$700.00
Parr, LLC ..................................................$191,900
Padgett, Inc ..............................................$111,480
Padgett, Inc ..............................................$29,300
Padgett, Inc ..............................................$146,960
Padgett, Inc ..............................................$18,320
Padgett, Inc ..............................................$23,990
Beverly Padgett .......................................$65,630
Payne Sparkman Inc. .............................$149,620
PC Properties, LLC .................................$719,410
Product Specialities, Inc .........................$518,730
Product Specialities, Inc .........................$101,730
Gary & Kimberly Ragsdale ....................$23,610
Richardson Hawkins Durkins, LLC........$53,200
Riteway Industries, Inc ..........................$1,366,440
Larry & Brenda Scharlow .......................$303,040
Samtec, Inc ...............................................$2,6679,160
Samtec, Inc ...............................................$507,770
J.R. & Mary Ellen Shine...........................$249,590
Shireman-Uhl Properties, LLC...............$121,800
S & H Properties, LLC .............................$222,400
S & H Properties, LLC .............................$237,700
Brenda Sprigler ........................................$52,210
St. Edwards Court LP ..............................$2,242,720
Wanda Stubbins ........................................$42,200
Sunnyview, LLC .......................................$566,670
Sunnyview, LLC .......................................$2,160
Stephen Tilton ..........................................$635,120
Candice Toman .........................................$27,150
Stephen & Shelia Wallace ........................$366,840
Daniel & Vicki Williamson .......................$19,390
Woods Bay Lodging, LLC ........................$964,270
Wood & Horrel Limited Liability ............$24,690
Georgetown Truss ....................................$101,900
Georgetown Truss ....................................$62,800
Joseph & Teresa Zeller ............................$28,610
Real Estate Abatement Total .................$20,018,800
Personal Property Abatement Total .....$9,729,940
Total Abatement.......................................$29,748,740
We at Freedom Of Speech wonder why it necessary for New Albany to grant so many tax abatements. Is this helping or hurting our city? Do other cities in the area have the same number of tax abatements?
Are the businesses allowed to renew after their 1-10 years have expired?
Please note: Our local New Albany Wal-Mart is not listed. Evidently, Wal-Mart did not request a Tax-Abatement and they are paying taxes.
Tribune Legal: 12/20/2005-
