Several local businesses are requesting tax abatements from Yellowstone County on their investment in new equipment. The abatements are for qualifying Class 8 Property – primarily manufacturing concerns that generate economic growth. A recent change in state law (SB 530) requires that county commissioners grant the abatement requests, with the only options available to them being whether to apply the abatement at the 80 percent, 90 percent or 100 percent.  The abatement is phased out over the next five years at which time the company pays the full property tax.

The County Commissioners approved a supplemental application for a tax abatement request from CHS. In January, the County Commissioners approved, at 80 percent, an initial property tax abatement request from CHS for manufacturing equipment totaling in value $38,872,419.88.

They have also approved, at 80 percent, an abatement request of Class 8 property from Phillips 66 on the investment of $7,459,311 of equipment.

The Commissioners also approved a tax abatement for Signal Peak Energy and Coca Cola are requesting abatements on new investments in their businesses.

Signal Peak Mine will receive a 80% abatement n $36,841,583 of manufacturing equipment located in Yellowstone County.

Coca Cola received an 80% tax abatement on $47,150,873 involving the construction of their new manufacturing plant.