Tax Break Part Of Major Coca-Cola Bottling Expansion

Saturday, March 8, 2014

A tax break is part of a planned $67 million expansion by Coca-Cola Bottling United.

The firm is working toward a new location at the former Olan Mills facility at Shepherd Road and Highway 153.

The City Council is set to consider granting the tax relief at a meeting on Tuesday.

The council is also considering an amended zoning policy for the Shepherd area in connection with the project.

Here is the tax abatement schedule on what taxes would be paid on the amount of the improvements:

Year City General Fund County General Fund County School Fund

2016 0% 0% 100%

2017 0% 0% 100%

2018 20% 20% 100%

2019 20% 20% 100%

2020 35% 35%100%

2021 35% 35% 100%

2022 45% 45% 100%

2023 45% 45% 100%

2024 45% 45% 100%

2025 45% 45% 100%

2026 45% 45% 100%

2027 45% 45% 100%

Officials said the amount of the school tax is computed at 27.1 percent of the amount of the total city and county taxes that would have been payable on the project if it were subject to property taxes.



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