For Information on the Rural Zone Tax incentive contact:
The Monticello DDA @ (706) 418-5688
JOB TAX CREDIT: Must create two full time jobs. $2,000 credit per new full time equivalent job. Not to exceed $40,000 credit per year. Eligible businesses include professional service and retail. Credit can be taken for five years as long as jobs are maintained.
REHABILITATION TAX CREDIT: Equivalent to 30% of qualified rehabilitation costs not to exceed $30,000. Credit should be prorated equally in three installments over three taxable years. Must create a minimum of two full time equivalent jobs.
INVESTMENT TAX CREDIT: This credit is for purchasing property downtown within the Rural Revitalization Zone. Equivalent to 25% of the purchase price not to exceed $125,000. To claim this tax credit the investment property must be within the designated Rural Revitalization Zone and create two full time equivalent jobs. Credit can be claimed over 5 years.