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Portage County objects to Magadore’s proposed TIF districts, urges negotiation on 30-year, 100% exemption
Summary
Commissioners voted to object to the Village of Magadore’s proposed tax-increment financing districts that would grant up to 30 years and 100% exemptions for improvements, and said they want to negotiate shorter or phased abatements.
The Portage County Board of Commissioners on Oct. 16 voted to object to the Village of Magadore’s notice of intent and proposed ordinances establishing two tax-increment financing (TIF) districts that, as presented to the county, would exempt improvements from taxation for up to 30 years and could exempt more than 75% of the improvement value.
County Administrator Becky…
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