Four of the five abatement projects shift school tax, not all five
Tax breaks, the brief, mechanics
- Said
- "Five industrial development agency projects ... moved $4,542,118" and, on the brief, "Five industrial development agency agreements moved about $4.5 million a year."
- Now
- Four of them did. The fifth, Rock 50 LLC, reports $0 of school tax exemption and $0 of school payment in the same filing.
- Why
- The dollar total does not change, because the fifth project contributes nothing to it. The count was still wrong, and it was wrong in the direction that made the finding sound larger. Five projects do sit in this district and all five appear in the table, which is why the error survived: the table was right and the sentence above it was not. Rock 50 was approved in 2022 and the agency took title partway through 2024, so a zero in its first year says nothing about the fifteen years its agreement still has to run.
Ledger rows: f-ida-project-net, which carries all five projects including the zero, and f-ida-rvc.