County approves 10-year tax exemptions
Published 11:01 am Tuesday, December 8, 2015
Ad valorem tax exemptions for two Lincoln County industries were approved and returned by the Mississippi Department of Revenue Monday.
The Board of Supervisors signed off on the exemptions for Rex Lumber and American Railcar Industries Inc.
For both companies, the 10-year exemptions began Jan. 1, 2015. For tax purposes, the true value for Rex Lumber was listed as $2,719,983 and American Railcar Industries’ value is $7,829,736.
Throughout the state, these tax exemptions are offered in the name of economic development and cover the establishment of and significant additions to the companies. After 10 years the companies will pay taxes.
The Board of Supervisors on Monday also approved the monthly lighting bill for November at $496.63. The board also approved for County Engineer Ryan Holmes to advertise to accept a striping job.
Mike Davis from the Southwest Mississippi Planning and Development District visited the board to present a report about the county’s water tabulation. Lincoln County’s water table, Davis said, is in good shape.
Lincoln County will have annual bid openings Jan. 14 at 10 a.m. in the boardroom. Each year the county opens bids for items of operation. The county is required to accept bids in order to get the best value for operational needs. Lincoln County’s Deborah Brent in purchasing said they bid out items such as plastic and metal culverts; rock, gravel and sand; heavy equipment and operator and bank deposits.
All board members were present at the meeting.
The board will have a docket approval meeting at 10 a.m. Wednesday.