Biloxi Tax Abatement
The city of Biloxi is hoping for even more development in the upcoming year after finalizing tax abatement numbers for two of the city’s biggest developers.
Fifty percent of taxes for Barrington Development and RW Development will be offset by the city of Biloxi for five years as decided in today’s City Council meeting. The tax abatement is to encourage the development of hotels, attract tourists and more. The city discussed a variety of different percentages and years regarding tax abatements before the 50 percent, 5 year tax abatement motion passed.
Biloxi Mayor Andrew ‘FoFo’ Gilich tells News 25 that he wants to make sure the city sets a clear and consistent message for future economic development projects in the city of Biloxi. “We’ve got a lot of opportunity. We’ve got more shoreline and more waterfront opportunity. I think we’re still under about 3,000 hotel rooms. We just have a better position with some of our waterfronts and some of our amenities with being in Biloxi. I think we’re in a pretty strong position.”
The incentive program was introduced by the state for post-Katrina development.
Fifty percent of taxes for Barrington Development and RW Development will be offset by the city of Biloxi for five years as decided in today’s City Council meeting. The tax abatement is to encourage the development of hotels, attract tourists and more. The city discussed a variety of different percentages and years regarding tax abatements before the 50 percent, 5 year tax abatement motion passed.
Biloxi Mayor Andrew ‘FoFo’ Gilich tells News 25 that he wants to make sure the city sets a clear and consistent message for future economic development projects in the city of Biloxi. “We’ve got a lot of opportunity. We’ve got more shoreline and more waterfront opportunity. I think we’re still under about 3,000 hotel rooms. We just have a better position with some of our waterfronts and some of our amenities with being in Biloxi. I think we’re in a pretty strong position.”
The incentive program was introduced by the state for post-Katrina development.
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