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Council approves preliminary tax abatement for UN Printing equipment
Summary
The council unanimously approved Resolution 12 20 25, a preliminary five-year tax abatement request for new printing equipment at UN Printing, after a company representative explained how a $2,000,000 threshold is treated as a cost figure rather than assessed value; a public hearing will be held before final adoption.
The city council voted 6-0 to approve Resolution 12 20 25, a preliminary resolution authorizing a tax abatement for new printing equipment at UN Printing. The resolution, as read to the council, covers equipment with an approximate value of $800,000 and requests a five-year abatement schedule. The council scheduled a public hearing and indicated a final resolution would follow if the abatement is confirmed.
“My name is Robert Morgan, and I'm here on behalf of UN Printing,” said Robert Morgan, who told the council the $2,000,000 figure discussed during the meeting is treated as a cost threshold under state guidance and is distinct from assessed value. “If your cost is above $2,000,000 you pay property tax. If your cost is less than $2,000,000, you don't. Cost is different than value,” Morgan said, describing past shifts in how the threshold was applied and why the company sought the abatement as a form of insurance against changing rules.
Council members asked for clarification about the threshold, the proposed abatement schedule and whether the measure would affect the city’s revenues. The council noted the measure is preliminary: a public hearing must occur before the council can vote on a final resolution.
President Groves moved to read and approve the preliminary resolution; the motion carried by a 6-0 roll-call vote. The council recorded that a public hearing would be scheduled and that a final vote would follow after that hearing.
