City Council irked at PILOT policy
JCIDA MAKES CHANGES: Lawmakers fear they'll lose tax money without having any say in agreements
By ROBERT BRAUCHLE
& NANCY MADSEN
TIMES STAFF WRITERS
SATURDAY, SEPTEMBER 25, 2010
The Watertown City Council is burning after learning the Jefferson County Industrial Development Agency is tinkering with its tax-exemption policy.
The policy, which governs payment-in-lieu-of-tax agreements, creates tax breaks for new or expanding manufacturing, renewable energy and certain retail businesses. Under the policy proposal, property tax breaks can reach up to 20 years, extended from 15, and usually have a flat or increasing amount of payments to the taxing jurisdictions instead of full-rate property tax payments.
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