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 or remain planted in Kansas, a new report shows.
The amount of foregone revenue could be much larger because the Sedgwick County appraiser's office didn't submit many applications seeking property tax breaks associated with the bonds to the state for approval, the report said.
Kansas legislative auditors on Wednesday released a new SSJ
