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Credit Union seeks tax break

The Ashley School Board weighed in on Hometown Credit Union’s request for a tax break during a special meeting Thursday morning.
HCU recently completed a new building in Ashley.
The new Ashley building and property, assessed at $236,000, would be taxed at $7,193. HCU is proposing the City of Ashley accept half that amount—$3,749—in lieu of taxes for the next 10 years. As taxes fluctuate, that amount would remain the same under the proposal. Taxes on the old Ashley HCU building and property, assessed value $28,820, are $879.
The structure normally would have qualified for a five-year Renaissance Zone tax break if the project hadn't moved forward without necessary pre-approval.
The Ashley City Council will ultimately decide what, if any, tax break the credit union gets. The School Board and and the McIntosh County Commission play advisory roles.