GULFPORT, Miss. (AP) – The city of Gulfport is offering tax breaks to people who build houses or businesses on property near the beach.
The Sun Herald reports (http://bit.ly/1V9BIm4) that residents can build a house on beach-area property and live in it for seven years without paying city taxes. City officials say they are trying to bring businesses and residents back to the beach, an area that has been mostly empty since Hurricane Katrina struck in 2005.
The tax break is available for homes, multi-family housing and businesses south of the CSX railroad tracks. The break only applies to new construction. To qualify, the minimum investment for a house is $400,000 facing the beach and $100,000 off the beach. The minimum investment is $1 million for commercial property and $3 million for multi-family housing.