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Parker Poe Consulting Develops Fee-in-Lieu of Tax Model Available for County Use

  • News
  • August 23, 2016

Parker Poe Consulting has created a fee-in-lieu of tax (FILOT) model providing economic developers with the ability to illustrate the “net to County” financial impacts of the various fee-in-lieu of tax and special source revenue credit arrangements available to new and expanding companies. 

The most distinctive features of the model allow economic developers to:

• illustrate the effect of local option sales tax (LOST) credits by simply selecting “yes” or “no” from drop-down menu

• automatically illustrate one special source revenue credit (SSRC) or multiple in a tiered format

• enter project-specific-data in one place and simultaneously produce 20, 30, and 40-year illustrations

• illustrate special treatment of existing buildings with a separate special source revenue credit, or no credit, if so desired

• easily manipulate assessment ratios, depreciation rates, discount rates, multi-county industrial park splits, etc.

• select appropriate millage rates from a drop-down menu of County specific tax districts and millage rates that are built into the model

“Parker Poe Consulting’s user-friendly Fee-in-Lieu of Tax Model has proven to be a vital resource for our member Counties. Using each prospective project’s investment schedule to create multiple Fee illustration literally takes minutes.? ?The Model’s ability to incorporate the impact of local option sales tax credits, accommodate the special treatment of existing buildings, and easily integrate special source revenue credits has made the Model an invaluable resource in helping us determine the ‘net to County’ impact of the various Fee-in-Lieu of Tax components.”

– Rich Fletcher, President & CEO, SC I-77 Alliance

“Understanding the net to County financial impacts of every Fee-in-Lieu of Tax incentive offering is an important part of the job for a local Economic Developer. Parker Poe Consulting’s Fee Model offers easy-to-manipulate variables and built-in millage rates illustrating the net financial impacts quick and easy for County stakeholders and prospects alike.”

– Jeff Ruble, Executive Director, Richland County Economic Development Office