Vicksburg board approves tax exemption for Ergon
Published 1:57 pm Thursday, June 8, 2023
The Vicksburg Board of Mayor and Aldermen Monday approved a request from Ergon for a 10-year tax exemption starting Jan. 1, 2023, on equipment purchased in 2022 to improve and upgrade the refinery.
According to its application for the exemption, Ergon is seeking an exemption on $8.014 million in equipment and improvements involving the 2022 expansion at the refinery that created eight new jobs and a total annual estimated payroll of $19.9 million.
The application will have to be approved by the Warren County Board of Supervisors before it can be forwarded to the Mississippi Department of Revenue. If approved, the exemption would give Ergon an estimated total of $108,167 break in taxes the first year, according to the Warren County Assessor’s office.
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Assessor Ben Luckett said the tax break in succeeding years would be less as the value of the equipment depreciates.
“It’s personal property; new equipment,” Luckett said. “Equipment they replaced and put new equipment in.”
He said employees with his office will take the list of equipment provided in the application “and we’ll go in and set up a walk-through and they’ll (Ergon) show it all to us and verify it’s on-site and take it before the board (of supervisors).”