The Leflore County Board of Supervisors approved 10-year ad valorem tax exemptions for two of the county's largest employers at a meeting Monday.
Angela Curry, interim director of the Greenwood-Leflore Industrial Board, requested the exemptions on behalf of Raybestos LLC and Milwaukee Electric Tool Corp.
Representatives of both companies were present.
Raybestos LLC, which employs 230 people, received a tax exemption on "their land, building, furniture, fixtures, machinery and equipment in the building," said County Tax Assessor Leroy Ware. "The only thing they have to pay is school district tax," he said.
The exemption will save Raybestos $94,838.35 each year for 10 years, Ware said. The true value of the company's building and equipment is $5,649,679.54.
Milwaukee Electric Tool Corp., which employs 370 workers in the county, received an exemption on new equipment, Ware said. The exemption will save them $49,869.63 yearly for 10 years, he said.
