A manufacturer complained about its tax bill. Now an SC school district will lose $1M

By Amanda Harris
The State
November 20, 2017
Category: Business & Politics
Region: United States, US East

The Rock Hill school district is looking at a tax revenue loss of more than $1.2 million this year. The district’s largest taxpayer, the former Bowater plant that is now owned by Resolute Forest Products, recently filed an appeal with the S.C. Department of Revenue over its assessed property value for tax years 2015, 2016 and 2017, said Terri Smith, chief finance officer for the district. The appeal has resulted in a loss of $1.2 million in tax revenue to the school district this year, and a loss of $530,000 in revenue annually, Smith said.  …The manufacturer claimed the tax assessments were excessive due to economic challenges facing the paper industry, said Bonnie Swingle, spokesperson with the S.C. Department of Revenue. A settlement reduced Resolute’s taxable real property.

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