HomeMy WebLinkAboutAbatement schedule updated for FY 14-15April 22, 2013
8/11/2014
9:24 AM
Name of Entity Property Tax
abatement terms
Date abatement
begins
Date
abatement
ends
Percentage of
Abatement/Rebate
Percentage to be
paid by entity
(to Town)
Sales Tax Rebate
Fidelity- Phase Two
10 years from
issuance date of
initial Certificate of
Occupancy
11/3/2009 11/3/2019 90%10%
100% of 1 % of local for all
building materials and business
personal property affixed to the
facilities.
Approved - April 23, 2007 Real $60,723,872 $ 54,651,485 $ 6,072,387
Personal 22,401,664 20,161,498 2,240,166
Personnel = 1,000
Sq. Ft = 500,000 Total $83,125,536 $ 74,812,982 $ 8,312,554
Tax revenue
based on
current rate
of $.15634
$ 116,963 $ 12,996
Deloitte University
10 years from
issuance date of
final Certificate of
Occupancy
Temp. CO
10/30/11
(Abatement
based on
Temporary CO )
Based on date
of temporary
CO 10/30/21
65%35%
100% of 1% of local for all
building materials and business
personal property affixed to the
facilitiy
Approved - March 24, 2008 Real $118,430,626
Final CO
expected 11/12
per EE
$ 76,979,907 $ 41,450,719
Direct Pay Permit- 100% of 1% of
local tax for term of agreement (10
years)
Personal 25,639,007 16,665,355 8,973,652
Personnel = 100
Sq. Ft = 750,000 Total $144,069,633 $ 93,645,261 $ 50,424,372
Tax revenue
based on
current rate
of $.15634
$ 146,405 $ 78,833
TAD: Property 05306035
TAD: Personal 13682261
Property Value as of
July 2014
Town of WestlakeReal and Personal Property Tax Abatement Summary