DALTON, Ga. -- County commissioners tabled discussion of fast-tracking freeport exemptions Monday night.
Commissioner Harold Brooker said they will revisit the issue in October.
"What we're trying to do is see what the (tax) digest will produce this year, what the revenue loss will be this year and get a true figure for the following year of what we can do," he said.
Right now, the county only has estimated revenue losses from the tax assessor's office, according to Finance Director Ron Hale.
Freeport exempts manufacturers from paying taxes on certain inventories. Starting this year, Whitfield County businesses are exempt from paying 20 percent of taxes owed on qualifying inventories.
The plan was to increase the exemption each year by 20 percent to reach 100 percent in five years, but Mr. Brooker recently suggested the county accelerate freeport exemptions to help existing businesses and attract new ones.
Commission Chairman Mike Babb said the county needs to "get 100 percent freeport in place as soon as possible" to be competitive, but commissioners still must discuss moving the exemptions forward faster with the city and school systems.
If the county can absorb the revenue loss, Mr. Brooker said, they may increase freeport exemptions by another 40 percent next year.
ESTIMATED REVENUE LOSSES DUE TO FREEPORT EXEMPTIONS
* $159,356: County loss at 20 percent
* $796,779: County loss at 100 percent
* $322,544: City loss at 20 percent
* $1.61 million: City loss at 100 percent
* $464,622: County schools loss at 20 percent
* $2.32 million: County schools loss at 100 percent
* $880,431: City schools loss at 20 percent
* $4.4 million: City schools loss at 100 percent
* $1.82 million: Total loss at 20 percent
* $9.13 million: Total loss at 100 percent
Source: Ron Hale, county finance director