Three Knox businesses are apparently doing a good job of meeting the conditions of their tax abatements. The city council last week approved the CF-1 forms from Traffic Control Specialists, Reagent Chemical & Research, and J.W. Hicks.
“Basically, they’re all in good standing, as far as with their jobs and what they promised to do,” said Mayor Dennis Estok. “Property taxes are all up to date.”
Under a tax abatement, a business typically promises to hire a certain number of employees and pay a certain amount in salaries, in exchange for having its taxes reduced or phased in over a certain period of time.
