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Because of a local economic boom created by a new facility

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This year, Company LI built a light rail facility in County G. THe assesed property tax value of the facility is $20 million. To convince the compnay to locate within its jurisdiction, the county abated its 4 percents property tax for the year. Because of a local economic boom created by a new facility the aggregate assessed value of County G's property tax base increased by $23 million.

Calculate the net effect on County G's current year tax revenue from the abatement?

Reference no: EM13591132

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