Economic Development Exemption (EDX)
The Board of Tax Appeals provides instruction and technical assistance for entities applying for an Economic Development Exemption from Ad Valorem taxation on real estate and tangible personal property for up to ten years. The exemptions apply to land, building, machinery, and equipment for new or expanding businesses. A non-refundable application fee applies.
Industrial Revenue Bonds
The Board of Tax Appeals provides instruction and technical assistance for entities applying for Industrial Revenue Bond (IRB). Property financed with the proceeds of an Industrial Revenue Bond (IRB) may be exempt from property taxation for ten years. The cost of building materials and permanently installed equipment is exempt from state and local taxes. Barton County and its cities have been very open to IRB financing over the years. A non-refundable application fee applies.
Property Tax Abatement
The Board of Tax Appeals provides instruction and technical assistance for entities applying for tax abatements on real estate property. The entity must complete an application with the KS Board of Tax Appeals (there is a non-refundable fee, a Cost-Benefit Analysis Worksheet must be completed, and generally there is a public hearing). A non-refundable application fee applies.
Neighborhood Revitalization Program
The Neighborhood Revitalization Program is a tool for municipalities to encourage aging and deteriorate commercial districts and residential neighborhoods within their communities. Property owners who complete rehabilitation or new construction on residential, commercial, or industrial buildings in the target area can receive tax rebates to increase an appraised value, which results from their work. The cities of Claflin, Ellinwood, Great Bend, and Hoisington have implemented this program in Barton County.
Come Home Reverse Scholarship
Golden Belt Community Foundation offers student loan forgiveness for people who desire to move to Barton County. This opportunity is for individuals that have graduated college within the last seven years and currently live outside the Golden Belt area.
Kansas Department of Commerce
The Kansas Department of Commerce offers a variety of tax credits and financing meant to stimulate business commerce.
- Angel Investor Tax Credit - for qualified investors
- Corporate Income Tax Credit - for specific industries (oil, childcare, film, etc), contact your accountant
- Kansas Downtown Redevelopment Tax Rebate - rebates for property tax for qualified business improvements
- Machinery & Equipment Expensing Deductions - for new expense deductions, contact your accountant