General Broach abatement figures 10.1

Posted in 2008 October

Audience members asked at Morenci’s Sept. 22 city council meeting about the impact of a tax abatement on the city budget.

The information was later obtained from the county equalization department.

Without the abatement, the General Broach Company would have paid taxes amounting to $12,412. The 50 percent abatement cuts that figure in half for 12 years.

The city will now receive a property tax payment of $2,435—half of the amount without an abatement.

The county will receive $936, the school debt fund will receive $1,327 and the county supplemental fund will receive $127. All of those are also half of the unabated figure.

In January 2007, General Broach was given an abatement for an equipment purchase valued at $413,000.

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