Mapping Tax Abatements to Mitigate Controversy
"St. Louis economic development officials are finalizing a map to guide where property tax abatement will be offered in the city as part of a months-long effort to establish more parameters for the commonly used incentive," reports Jacob Barket.
Alderman Scott Ogilvie, a member of St. Louis Board of Aldermen's Housing, Urban Development and Zoning committee, is quoted in the article saying, "In terms of giving people more confidence that we’re using tax abatement appropriately, the map would go a long way…"
St. Louis' tax abatements "freeze property assessments when investors plan to put money into new development," explains Barker, dropping potential revenue by an estimated $30 million in 2017, according to Maier. Most of that funding would have gone to the school district, setting up an ongoing political conflict.