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Midlothian updates tax abatement policy, raises minimum taxable value threshold
Summary
The council adopted an updated tax abatement policy, increasing the minimum taxable value threshold from $50 million to $100 million and reaffirming that abatement is used sparingly for larger projects (7–0 vote).
Staff described proposed updates to Midlothian’s tax abatement policy, explaining the change in minimum taxable value from $50 million to $100 million as a reflection of using abatements more selectively for larger projects. "Tax abatement is one that we are using less and less, and it is being used for larger projects that align with that larger taxable value," staff said during the presentation.
Council members asked whether the change would affect any current projects in the short-term pipeline; staff said no active pipeline projects would be impacted and reiterated that other incentives remain available for smaller projects. The resolution to readopt the tax abatement policy passed unanimously.
