Source: Good Jobs First, 2020
Discover How Much Revenue Governments in the United States Lose Every Year to Tax Abatement Programs
TAX BREAK TRACKER is the first national search engine for tax abatement disclosures per Statement No.77 of the Generally Accepted Accounting Principles (GAAP) for governmental entities – set forth by the Governmental Accounting Standards Board (GASB). For more information about this new accounting rule, visit our GASB-77 Resource Center.
This database already includes nearly 20,000 individual entries extracted from Comprehensive Annual Financial Reports (CAFRs) – each represents a reduction in tax revenue due to one or more economic development tax abatement programs as reported by a jurisdiction in a particular year, or the lack thereof: Many jurisdictions failed to comply with GASB 77.
Search by state or local governments from the drop-down menus below to find out the cost of economic development incentive programs to public services. For additional explanations, check out this user guide. If you do not see the locality you are looking for, you might find it here in this list of localities that failed to disclose their revenue losses: 1/6/2020