Dive Summary:
- Norton, Massachuetts voters approved a plan to give Waste Management real estate tax breaks.
- The tax breaks will save Waste Management an estimated $502,000 over an 11 year period.
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Waste Management is building a trucking station in the area and has absorbed significant unexpected costs at the towns urging to upgrade traffic lights and repairing roads. The town still expects to collect over $1.6 million in new taxes from the trucking station.
From the article:
Selectmen said they want to send a message that Norton is a business-friendly town and Town Meeting voters appeared to agree last week passing two articles regarding taxes for businesses.
Selectmen asked voters, Thursday, Nov. 1, to approve a Tax Increment Financing (TIF) agreement between the town of Norton and Waste Management of Massachusetts Inc. and a Payment in Lieu of Taxes (PILOT) agreement with Cygnus Energy.
Voters approved the TIF agreement by majority, that will save Waste Management $502,000 in real estate tax exemptions over an 11-year period.
