- Associated Press - Friday, February 7, 2014

VICKSBURG, Miss. (AP) - In a story Feb. 4 about Anderson-Tully Co. and property taxes, The Associated Press reported erroneously that the company would see an $826,869 drop in taxes after receiving a “free port warehouse” exemption granted by Warren County. The company’s assessed value on the property would drop $826,869. The property tax savings would be $33,513.

A corrected version of the story is below:

ATCO gets tax break on finished products

Anderson-Tully given ‘free port warehousing’ tax exemption on Warren County

VICKSBURG, Miss. (AP) - Anderson-Tully Co. will see a $33,513 drop in taxes after the company was given a “free port warehouse” exemption by Warren County.

Since 2003, the state has allowed counties to phase out the property tax levied on goods shipped out of state. The phase-in would be over 10 years to reduce the impact of the loss of local revenue. Officials have described the tax as a burden on companies that store goods for later distribution.

ATCO’s exemption is for 10 years. The tax break does not apply to school taxes.

The company had filed a petition for reduction of assessed value on personal property. ATCO sought a reduction of $826,869 in assessed value.

The lumber processor applied for the “free port” exemption last summer. Calculations were finalized Monday and approved by the board of supervisors.

ATCO employs 200 people at its facility in Vicksburg with a payroll of $13 million.


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