Local governments have exempted an estimated $1.1 billion in property taxes over 15 years when they issued industrial revenue bonds that were intended to foster new economic development or help existing businesses grow, a new report shows.
The amount of foregone revenue could be much larger because the Sedgwick County appraiser's office didn't submit to the state for approval many of the applications seeking property tax breaks associated with the bonds, the report said.
Kansas legislative auditors on Wednesday released a new report
SSJ
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