UPS could get a break on some property taxes as part of the modernization of its hub in Indianapolis. The city‘s Department of Metropolitan Development will consider the property tax abatement at its meeting today, which UPS has asked for as part of its $10 million plan to update its operation on 81st Street in Indy.
Ryan Hunt, senior project manager with the department, says the abatement would save UPS roughly $276,000 over ten years in new property taxes. He says UPS would continue to pay property taxes on its existing property.
“The way it works is that it‘s a deduction in the taxes that would be due on the new investments they are proposing,” he says. “So the existing taxes for the personal property they have are unchanged, and the real property taxes are unchanged.”
UPS spokeswoman Susan Rosenberg says construction on the modernization is already underway and is scheduled to be finished in September.