[PaperSun]

Originally Posted by Innsertnamehere

https://pub-hamilton.escribemeetings...umentId=376523

Tax increment grant up at council. Emblem asking for a $5.6 million tax break.

The development will take this plot of land from an assessed value of $4.3 million to $223 million, a 5100% increase.

The city is expected to receive $2.3 million in annual property taxes from the development. The grant would waive taxes on the first year, 75% on the second year, 50% third year, and 25% in the fourth year, for a total of $5.6 million.

I am not familiar with this kind of stuff, why should council approve this grant?