Wednesday, June 24, 2009

How is this all going to play out?

Inspiration Network, a Christian cable network, owns 92 acres of prime property in Indian Land. As a nonprofit company, they expect to be exempt from taxes. They were also given $26 million in financial incentives by both the county and the state when they located here.
Recently the state Department of Revenue ruled that they are not going to be exempt from property taxes. This could amount to about $830,000 annually.
Inspiration Network, which calls its' campus the City of Light, has built two buildings and done some landscaping that includes a set of lighted spires.
So my question is this: if the City of Light has to pay taxes, an expense they were not planning to have, are we are in danger of becoming the home of an abandoned, undeveloped piece of property right in the middle of Indian Land, ala PTL in Fort Mill?

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