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ITAMCO Seeking Tax Abatement for Equipment in Argos

February 24, 2011
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02/25/11 Argos Town Clerk, Patty Jones, informed the Council that ITAMCO is requesting a tax abatement for the new equipment to be placed in their factory.  She also told the Council ITAMCO has invited them for a tour of their factory on 17th Road.  The public hearing for the tax abatement will be on March 2nd at 7:15pm.

Fire Chief, Mark Dean, told the Council of two grants he has applied for.  One grant is for the upgrade for the seven Scott SCBA (self contain breathing apperatise) used by the department.  The other grant is for SCBA face masks, a VHF radio, and turnout boots.  “You pay taxes to have the services but sometimes the tax doesn’t support the services.” said George Null, Council Vice President and a volunteer fireman.

The Council announced that Argos had grown.  According to the 2010 Census Data, the population of Argos is 1,691.  This is an increase of 41 from the 2000 Census.

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2 Responses to “ ITAMCO Seeking Tax Abatement for Equipment in Argos ”

  1. tjefferson on February 28, 2011 at 1:24 pm

    As I understand it, companies seeking abatements have to make a statement of benefits (i.e. jobs) to the town. From the state’s abatement website: “Tax abatement is one of the most commonly used local financial incentives in Indiana. By 2003, tax abatements had been granted in 85 of Indiana’s 92 counties and used by 563 civil cities and towns within these 85 counties.” (source http://www.in.gov/indot/div/projects/i69planningtoolbox/_pdf/Tax%20Abatement.pdf). If I read this site correctly, municipalities are not actually giving tax money to a company, they are only abating (making less) the amount of property taxes a company pays over a period of time. Bascially, property taxes are phased in over a 1-10 year period instead of being levied at 100% from the beginning.

  2. CommonCents on February 25, 2011 at 6:23 pm

    I would hope that if Argos grants them an abatement that the company would guarantee the creation of new jobs. Simply purchasing new equipment should not be a reason to cause other taxpayer’s taxes to increase. I do not work at ITAMCO, so why should my taxes be used to purchase their new equipment? If every company that purchased new equipment asked for an abatement and was granted one this would result in all of our taxes property taxes increasing. I bought a new lawn mower last year, can I get an abatement too? What guidelines does the town use to grant or reject a tax abatement anyway? The people have the right to know.