Arkansas City commissioners approved a special tax incentive Tuesday in hopes of luring builders to the new Compass Point housing development. A proposal presented to the commission called for a 90-percent tax rebate on the first $150,000 property value for 10 years. That is an increase over the city’s current tax rebate program, which allows 75 percent for seven years. After a brief discussion, elected officials approved the resolution, but also raised the property value cap to $250,000.
Source: The Arkansas City Traveler
