COLDWATER (WTVB) If the Coldwater City Council gives its o-k Monday night, the city will have one more tool at its disposal in trying to attract new business and industry to town. The city currently has the ability to grant tax abatements for Real Property, which includes buildings and land. The proposed tax abatement program, which the state only offers to what it describes as “distressed communities” and to county seats, is designed to spur development in those communities. In addition to Coldwater, Bronson is also eligible to participate in the Personal Property Tax Abatement program. That would allow the communities to grant abatements on personal property ranging from new manufacturing lines to new computers. The new or existing business would have to show it is creating at least 5 new jobs by getting the abatement.
While city Community Planning Director Keith Baker says the abatement program could assist border communities like Coldwater in attracting new businesses or industries, it might soon be a moot point. Governor Snyder and many in the state legislature have been calling for an end to the Personal Property Tax altogether.