Tax Abatement
5 Dec 2016
Another incentive for development is through Tax Abatements. Tax Abatements is a tax rebate rather than an exemption from paying taxes. An abatement is a reduction of taxes granted by a government for a specific period of time, usually to encourage economic development.
The City of Red Wing is in the process of updating their TIF and Abatement policies. The policy will eventually be posted on the City’s website. For more information on Tax Abatements, contact the City of Red Wing, the Red Wing Port Authority, or click here: http://www.redwingportauthority.org/red-wing-port-authority/loans-and-incentives/incentives-directory/?item=1248
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