Microsoft Hands Over $5 Million Incentive for Mount Pleasant Property Tax Relief
Microsoft has relinquished its $5 million annual development incentive tied to the company's Mount Pleasant data center campus, with most of that money expected to go towards providing property tax relief for village residents.
Under Microsoft's development agreement, the company was eligible for the incentive once its projects generated enough property value. However, instead of receiving $5 million annually, the village will receive $4.9 million, while $100,000 will be allocated to the Racine County Economic Development Corporation.
The money, which is expected to return to Mount Pleasant by 2027, will be used to reduce the village's tax levy. The Village Board will make the final decision on how to use the funds when it considers the 2027 budget later this year.