Property Tax Exemption for Industrial Revenue Bond Financing: An exemption from property taxes on land, buildings and equipment is available and is valid for up to 10 years on property purchased with MBFC-issued industrial revenue bond proceeds. The exemption is offered at the discretion of local governing authorities and may be granted for all local ad valorem taxes except school district taxes. It may not be granted on finished goods or rolling stock.
For-Profit Business; Non-Profit Organization; Higher Education Institution; Anchor Institution
Eligible Recipients Detail:
Qualified manufacturing facilities, non-profit 501(c)(3) facilities and solid waste disposal facilities. utilizing industrial revenue bonds
Last Mile Infrastructure; Anchor Institution Infrastructure; Building Infrastructure; Broadband Enabled Devices
Eligible Purpose Detail:
Businesses can receive tax credits and property tax exemptions for participating in Industrial Bond Financing related to the following activities:
Acquisition, rehabilitation or construction and Acquisition of new equipment for: Educational Facilities; Healthcare Facilities; Charitable Organizations; Small Issue Manufacturing Facilities; Solid Waste Disposal Facilities.