New government report details ITEP cost to city-parish
The Industrial Tax Exemption Program cost the city-parish around $10 million last year, according to a new report from the city’s finance department. But that number only represents a fraction of the amount of taxes the city-parish gave up in 2016 to companies that received the exemption.
The report is scheduled to be presented to the Metro Council today as part of the council’s new authority over the program. The ITEP grants companies local property tax exemptions for capital projects.
The findings confirm estimates in a report released last week by Together Baton Rouge, a faith-based advocacy group that has lobbied to curtail the generous ITEP exemptions.