WMFD TV

Search Archive WMFD.com News

www.wmfd.com - A 10-year, 100 percent tax abatement for an expansion project at Arcelor Mittal has been approved by the Shelby Board of Education. }}" />

   
 
 
Shelby School Board Okays Abatement For Company Expansion

Story By: Brigitte Coles

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 6/27/2014

A 10-year, 100% tax abatement for an expansion project at Arcelor Mittal has been approved by the Shelby Board of Education.

Supt. Tim Tarvin said based on the Richland County auditors estimates, the project would generate about $119,953 annually in property taxes for the district. Tarvin said the district will not collect the money under the abatement.

"Arcelor Mittal has been a tremendous benefit to this community and a great partner for the school district. We are happy for them and this new project," Tarvin said.

Tarvin said the project is estimated to add $1.9 million in payroll to Areclor Mittal. Shelby City Council has not acted on the abatement. Tarvin said they intend to consider it in early July.

"Regardless of whether or not real estate taxes are abated, the district would collect one-percent of whatever portion of this amount that is paid to school district residents in annual School District Income Tax. At maximum this would amount to about $19,000 a year." Tarvin said.

   
  MORE RECENT NEWS
 
Image1 Mansfield School Board Meeting presents criteria for preschool rating system and reveal activity of Springmill Learning Center. Full Story
Image1 The woman accused of causing an accident that killed a motorcyclist on Park Avenue West in Mansfield last July 22nd, has been indicted on nine counts. Full Story
 
Image1 Charges have been filed against the driver accused of causing a fatal accident Friday in Crawford County. Full Story
Image1 United Way of Richland County Director Dan Varn is making the rounds, spreading the message about the importance of this year's campaign, in person. Full Story
  MORE NEWS
 

United Way Director Taking Campaign Message To Contributors

Galion Community Hospital donation helps police department

Four Escape Injury In Rollover Crash

U.S. 30 Advisory Committee Discusses Reconstruction Project

More News