Taxes

Tax Advantages:
No personal property tax on intangibles No state real property tax No sales tax on raw material used in manufacturing No sales tax or use tax on production machinery and equipment for new or expanding industries No sales tax on water used for manufacturing purposes No sales or use tax on air or water pollution control equipment No sales tax on electricity, gas, coal or fuel oil used for industrial purpose.

State Taxes:
Sales and Use Tax - 5.5%
Individual Income Tax - Top rate of 4.1% on $50,000
Corporation Income Tax - Corporations pay 6.7% on $100,000
Corporate Occupation Tax - Varies according to the amount of authorized capital stock

Local Taxes:
Property Tax - calculated on:

• Earning capacity of the property
• Relative location
• Desirability and functional use
• Reproduction cost less depreciation
• Comparison with other properties of recognized value
• Market Value in the ordinary course of trade (greatest emphasis is placed on this factor)
• Zoning

Grand Island location.... $2.125279 per $100 valuation
Airport location........... $2.009710 per $100 valuation
City Sales Tax............ 1%

Grand Island and Hall County are committed to providing the best services at the least cost to their citizens. Source: Hall County Assessor, revised 2/03