Tax & Accounting Blog

Biloxi Creates Tax Incentives for New Hotel

Commercial Real Estate, Indirect Tax, ONESOURCE, ONESOURCE Property Tax July 28, 2012

The Biloxi City Council has approved a tax incentive for a new hotel tower at the Hard Rock Casino in Biloxi, Mississippi.  This incentive means the hotel will not pay an ad valorem tax on the improved value of the hotel for a seven year period.  These revonvations are expected to take 14 to 16 months to complete.  The city is creating this incentive, because the renovations will create 250 construction jobs and will add 90 new jobs in the hotel.