However, the company has recently filed and completed paperwork
to qualify for a “Fee in Lieu of Taxes" status which is determined by the
Mississippi Development Authority (MDA). To qualify for Fee in Lieu, there must be $100
million of private investment. Under this arrangement, tax dollars paid to the
school district could be reduced by as much as two thirds but the county and
city would share in the funds. In effect, the company would reduce their tax
burden but Winston County and the City of Louisville would receive significant
revenue that they could not obtain under a tax-exempt status.
In discussions with school officials and Tax Assessor Darlene
Bane, the overall effect would be a tax dollar win for Louisville and Winston
County but a significant loss for LMSD.
The paperwork has been filed in a timely manner for Winston
Plywood to qualify for Fee in Lieu and is currently in the hands of the MDA. Conversations
between the County and MDA indicate that it may be several weeks before the
application is approved and a final Fee in Lieu is established to be dispersed among
the City, County and LMSD. This delay in approval may result in the County’ s
tax roll not completed by the July 5th deadline.
Tax Assessor Darlene Bane informed the Supervisors of the
situation on Tuesday and is working with County Attorney Hugh Hathorn on
resolutions and options. At worst, the delay could push back some budgeting
decisions and the delay of receipt of tax revenues this Fall.