Mayor Henry at the Groundbreaking for the Courtyard of Fort Wayne.
Tax phase-in is a valuable incentive to attract new businesses into the Fort Wayne area. Its major impact, however, is to stimulate reinvestment by existing businesses -- by not penalizing them with a major tax bill when they can least afford it - after having just spent their money for a building and/or manufacturing equipment, or research and development equipment. Because new taxes are phased-in, each year new tax money goes into the community coffers while the businesses retain employees and create new job opportunities for our citizens. Without this incentive, businesses might not make these capital improvements at all!
For a fact sheet on tax phase-ins click here. For questions or inquiries regarding tax phase-ins contact Carman Young at 311.