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Henderson County to join City of Athens Reinvestment Zone No. 1 under 15-year participation agreement
Summary
Commissioners approved a 15-year participation agreement to join the City of Athens’ Tax Reinvestment Zone No. 1, agreeing to pay 35% of captured increment; single-family residential properties and a preexisting abatement for UT Health Athens are excluded.
Henderson County approved a participation agreement to join the City of Athens’ Tax Reinvestment Zone No. 1 (TIRZ) after staff and city officials answered commissioners’ questions about term length, exclusions and administration.
The agreement, presented by county staff member Mister Strong, would commit the county to a 15-year participation term and to contribute 35% of the tax increment above the zone’s base value, Strong said. "The length of this agreement for the county's participation is set at 15 years," he said, and "the county's obligation would be 35% of the increment minus base."
The measure matters because tax…
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