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Trying to soften the blow for Ranson businesses

December 06, 2006

Ranson City Council members passed a set of tax credits Tuesday night designed to soften the blow of a recent increase in the city's business and occupation tax which has more than doubled some tax bills for businesses.

Among the tax credits are:

· A 50 percent reduction of the business and occupation tax for any business in the "old town" district, which is generally the area of Ranson before city officials annexed about 3,800 acres.

· Credits for businesses which undertake projects like expansions, facade improvements or hire at least 10 more employees.

· Building contractors working on affordable housing projects will be able to reduce their B&O tax by 75 percent to help keep the cost of the housing low.

· Businesses sponsoring a city project such as landscaping a park can ask for permission for a reduction in their B&O tax equal to the cost of their share of the project.

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