HOLT — Okaloosa County commissioners approved a five-year tax abatement for a company planning to expand.
The company will get a $45,000 abatement on tangible personal property taxes from 2014 to 2018. The tax break will apply only to tangible personal property not already on the tax rolls.
The Economic Development Council asked the county to pay $9,000, or 20 percent, of the tax break while the state would pay the remaining $36,000, or 80 percent.
The state arrived at the $45,000 total by allocating $3,000 for each of the 15 new jobs the company has said it would add.
State law requires the company’s name to remain confidential.
This article originally appeared on Crestview News Bulletin: County OKs five-year tax abatement