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Cherokee County Property Tax Savings - KOAM TV 7

Cherokee County Property Tax Savings

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CHEROKEE COUNTY, KANSAS -

The board of commissioners in Cherokee County, Kansas wants new construction to grow its local economy. They're hoping to attract it by tinkering with taxes.

They've put together a plan which gives developers a 95% property tax rebate for 5 years, to any new homes or businesses built in Cherokee County. The discount also applies to current residents, businesses, and farmers who need to rebuild or remodel in Cherokee County. And since the county isn't the only one who collects property taxes, it's not the only one offering the rebate.

"I think all of our local school boards have already signed on to that and most of the cities, so it's going to be very encompassing and comprehensive, and it's going to be a pretty good tax break for the people who invest in Cherokee County," said Commissioner Neal Anderson.

Cherokee County can afford to give such a generous tax break because it's discounting a tax on money coming into its economy, without sacrificing county funds.

"You can't lose something that you don't already have, and basically that's what we're looking at. So it's not going to affect our budget whatsoever," said Commissioner Anderson.

A local company has already taken advantage of the plan. Faulkner Grain is saving big bucks on a 2.5 million dollar expansion. They're building a one million bushel grain storage facility, because of demand and larger crop yields. The money saved will go right back into company projects.

"You always have updates you need to do and maintenance. So with the money we saved, it can go towards that and it can go to future improvements for the company," said Faulkner Grain Assistant Manager Jeff Foster.

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