By Nicholas Langhorne (Contact) | Tidewater News
Published Wednesday, July 14, 2010
ISLE OF WIGHT—In 2009, commercial real estate tax revenue made up only 15 percent of the real estate taxes collected in Isle of Wight County.
That could soon change if the Board of Supervisors approves an economic development incentive policy.
The proposed incentives include review fee waivers, an expedited review process, connection/tap fee reinvestment, proffer flexibility, an economic development incentive grant, the establishment of a community development authority, the establishment of a tax increment financing district and other incentives the board deems appropriate.
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