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New Financial Disclosure Required for Tax Abatements

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Reviewed Date: October 29, 2018

Original Author: 
Stegall, Kay
Date Created: 
Dec 5, 2016


Subjects:
Financial disclosure
Finance--Tax increment financing
Finance--Municipal
Taxes--Payment in lieu of taxes
Taxation--Municipal
Economic development
Industrial development--Boards
Industrial recruitment and retention

New Financial Disclosure Required for Tax Abatements

Summary: 
A tax abatement per GASB may not be the same as the legal definition of a tax abatement in Tennessee law, but remember that GASB's definition is for external financial reporting purposes.

Attachment(s):
PDF icon New GASB Disclosure Required for Tax Abatements.pdf

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MTAS letters and publications were written based upon the law at the time and/or a specific sets of facts. The laws referenced in the letters and publications may have changed and/or the technical advice provided may not be applicable to your city or circumstances. Always consult with your city attorney or an MTAS consultant before taking any action based on information contained in this database.