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Montgomery County approves 10-year tax abatement for SoGo Properties tied to $6.17M investment
Summary
The Montgomery County Commission unanimously adopted a tax abatement agreement for SoGo Properties, LLC under the Brownfield Development Tax Abatement Act, granting up to 10 years of abated noneducational property, construction-related sales/use, and mortgage/recording taxes for a project with a cited $6,172,937.50 capital investment.
The Montgomery County Commission on Aug. 5 adopted a resolution approving a Tax Abatement Agreement with SoGo Properties, LLC under the Brownfield Development Tax Abatement Act (Ala. Code § 40-9C-1 et seq.). The agreement grants abatements for noneducational ad valorem taxes, county construction-related noneducational sales and use taxes, and mortgage and recording taxes for up to 10 years.
Commissioner Castanza moved to adopt the resolution…
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