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City staff propose Freeport exemption referendum to protect certain industries; council to consider placing measure on ballot
Summary
City staff recommended placing a Freeport exemption referendum on the ballot to make certain inventory and manufacturing property eligible for a tax exemption if citizens approve; staff said the change would protect certain existing manufacturers and was recommended by the Georgia Department of Revenue.
City staff discussed a proposed Freeport exemption and recommended the council consider placing a referendum on the ballot this November to allow the exemption for specified categories of goods and industries.
Staff said the Freeport exemption, recognized in state law and recommended by the Georgia Department of Revenue, would apply to categories such as inventories in the process of manufacture, partly finished goods, finished goods stored pending shipment, and goods held in fulfillment centers. Staff said three local businesses would qualify under the statutory categories and that Dallas Millworks (example given) would benefit if inventory is manufactured and stored locally.
The measure discussed would ask voters whether to permit the city to offer Freeport exemptions; if the council places the referendum on the ballot and voters approve, the exemptions would be available in the event of a future city property tax. No final decision to place the referendum on the ballot was recorded during the work session.
