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Staff estimate: $100,000 business personal property exemption could cost Covington County about $37,580 a year
Summary
County staff told commissioners the state's $100,000 business personal property threshold would exempt that amount from local taxes and estimated an annual revenue loss to Covington County of about $37,580; commissioners were told final property valuations should be known by May and will be asked to opt in or opt out.
County staff briefed the Covington County Commission on Jan. 27 about a new state threshold that would exempt up to $100,000 of business personal property from local taxation and reported a preliminary county revenue impact estimate.
"It looks like with the $100,000 threshold…
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