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Industrial revenue bonds are issued by cities, counties and the Kansas Development Finance Authority, and proceeds are used for companies expanding or locating new or existing facilities, according to the Kansas Department of Commerce. Benefits of the bonds include a low interest rate and partial or full property tax abatement for up to 10 years.
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Sales tax collections are a good economic indicator of how consumers are spending.
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Public ownership of the new Chiefs stadium would shield bonds for the project from the federal income tax.
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Under the new ownership of Dallas-based Gillon Property Group, a plan to revitalize Kansas City's Country Club Plaza is underway. Now, city officials and community leaders are facing a massive tax incentive request that they worry could hurt Kansas City Public Schools and other government services.
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A clerical error led to the revenue being returned to cities instead.
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Problems with Tesla, tariffs, and tax breaks have electric vehicle investors worried, even as Panasonic unveiled a massive new battery plant in De Soto, Kansas, on Monday. Leaders at the factory say it’s just a bump in the road.
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Lawmakers promised major property tax cuts this year, but they're running out of time. The Kansas House and Senate are at odds on how to do it.
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Next step will be action in the state House, where budget writers have different plans for distributing property tax help.
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The Kansas Legislature continues to struggle with ways to increase tax revenue and fill the state’s staggering budget gap of almost a billion dollars.As…
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This June, Kansas revenue collections fell approximately $33 million short of estimates, reports The Hays Daily News.June marks the conclusion of a…