Independence Chapter 100 Tax Abatement
Independence may use Chapter 100 industrial revenue bonds to provide property and sales tax abatement for qualifying business projects.
About this program
The City of Independence Economic Development Policy authorizes use of Missouri Chapter 100 industrial development bonds to incentivize qualifying private projects. Approved projects may receive real and personal property tax abatement through City ownership during the lease term, and may also benefit from sales tax exemption on construction materials and certain personal property, subject to public benefit, investment, job, wage, and financing criteria.
Eligibility
Businesses and developers with qualifying commercial, industrial, office, or large-scale investment projects in Independence may apply for Chapter 100 consideration.
Requirements
- Project must be located in Independence and conform to the City's Comprehensive Plan.
- Applicant must demonstrate that alternative financing methods have been explored.
- Project benefits to the community must justify the effect of abatement on taxing jurisdictions.