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The City of Corinth is committed to the promotion of high quality development in all parts of the City. On a case-by-case basis, the city will give consideration to providing tax abatement on the increment in value added to a particular property by a specific development proposal, which meets the economic goals and objectives of the City. The tax abatement shall not apply to any portion of the inventory or land value of the project. Tax abatement may be offered on improvements to real property owned by the applicant and/or on new personal property brought to the site by the applicant. Tax abatement will not be ordinarily considered for projects which would be developed without such incentives unless it can be demonstrated that higher development standards or other development and community goals will be achieved through the use of the abatement. Projects which are developed involving leased real property shall be governed under special terms and conditions which may be set forth in the agreement governing each specific tax abatement.
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