The Herald Banner, Greenville, TX

Local News

December 10, 2012

City Council to consider freeport exemptions for local industries

GREENVILLE — Two local industries are in line to receive exemptions on the taxes they pay for storing “goods in transit.”

The Greenville City Council is set to vote Tuesday on granting freeport tax exemptions and instead accepting a payment in lieu of taxes (PILOT) for AB Mauri Food and Masonite. The vote is scheduled during Tuesday’s regular session, starting at 6 p.m. in the Municipal Building, 2821 Washington Street. A work session is set for 5 p.m. Tuesday.

Greenville Board of Development Chief Executive Officer Greg Sims approached the Council earlier this year, asking the Council to join with the Greenville Independent School District and Hunt County in a “Partnership Freeport Plan.”

Under a freeport exemption, goods which are shipped either inside or outside the state within 175 days are exempt from taxation, but only if the goods are kept in a location which is not under the control of or owned by the manufacturer of the goods.

Sims noted that many area cities, counties and governmental agencies with whom Greenville competes — including Rockwall, Farmersville, McKinney and Terrell — have already passed the exemptions.

He cited two recent examples where Greenville would have benefited from the exemption, both involving companies interested in taking over the former Newell-Rubbermaid facility.

In a memo to the Council, Sims explained there would was expected to be no financial impact to the City of Greenville under the plan during 2013 or 2014, with an estimated cost to the city of $217,647 in the third year.

1
Text Only
Local News
Featured Ads
Photos


See more photos and purchase prints here.

Poll

Does Dallas head coach Jason Garrett need for the Cowboys to make the playoffs during the 2014 football season to keep his job?

Yes
No
Who knows with Jerry Jones as owner?
     View Results
Facebook
AP Video
The Carbon Trap: US Exports Global Warming UN Security Council Calls for Gaza Cease-fire Traditional African Dishes Teach Healthy Eating 13 Struck by Lightning on Calif. Beach Baseball Hall of Famers Inducted Israel, Hamas Trade Fire Despite Truce in Gaza Italy's Nibali Set to Win First Tour De France Raw: Shipwrecked Concordia Completes Last Voyage Raw: Sea Turtle Hatchlings Emerge From Nest Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe
Must Read
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Reader's Choice