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TILTON, IL — Village trustees here approved a tax rebate plan that will allow the newly built Super Wash carwash $4,200 back on their $8,400 annual tax for the first two years of operation, Commercial-News reported.
The Sept. 21 story stated that Keith Moran, president of Moran Economic Development, laid out the plan for the tax rebate before the board, showing them how the old abandoned lot turned into a state-of-the-art facility will generate economic growth and bring tax revenue to the town.
The $4,200 rebate will only be in effect for Super Wash’s first two years of operation, allowing the business to spend the extra money on startup costs.
According to Moran, new businesses in today’s economy need the extra money to get going, and a substantial tax rebate for the first two years of operation is a great way to help with that.
Read the entire article here.