GULFPORT, Miss. (AP) — Gulfport officials believe tax breaks for building improvements are one way to continue building momentum and traffic in the downtown area.
The Sun Herald reports (http://bit.ly/RIA894 ) the Gulfport City Council unanimously approved tax credits this week for renovations to three downtown buildings, two of them housing new businesses.
The tax breaks are good for seven years and apply only to renovations, not the assessed value of the buildings before improvements.
Though Harrison County also is expected to grant the same breaks on county-government taxes, the businesses will pay city school taxes on the improvements.
Information from: The Sun Herald, http://www.sunherald.com