Plaquemine Business Incentives
On the local Level, your business may also be eligible for one or more of the following:
- Iberville Business and Technology Park is located at Louisiana Highways One and 1148 and is spread over 100 acres located in an Enterprise Zone. Plots range one to 60 acres. Missouri Pacific Railway is nearby. Baton Rouge Metro Airport is 25 miles and New Orleans International Airport is 65 miles from the City of Plaquemine.
- Incentives and Infrastructure for Plaquemine businesses includes city-owned and operated infrastructure services of:
- Natural gas
- Fire and police protection
- Parish-provided solid waste collection
- AT&T major fiber optic relay station located downtown
- Low taxes and millages In Plaquemine which is 8.66% for city, parish and state sales tax. There is no state property tax in Louisiana. Land and other classes of property are assessed at 15% of value and public service at 25%. Average Iberville Parish millage rate is 88.86%.
- Main Street Business District. A Louisiana-designed Main Street City since 1992, City of Plaquemine has 21 city blocks included in the National Register of Historic Places, along with the City's Historic District as the locally-recognized Garden District, Old Turnerville District and WW. Harleaux / Captain T.T. Harris Districts.
Additional opportunities within the Plaquemine Historic District and Main Street District include:
- 2007 Cultural District: Act 298 of the 2007 Regular Session provides tax incentives within approved Cultural Districts: Cap on owner-occupied historic preservation tax credits increased from $1M to $10M and sales/use tax exemption for sale proceeds of original, one-of-a-kind works of art from locations established within the Cultural District.
- Historic Rehabilitation Tax Credit: Homeowners may qualify for a 25% tax credit (50% for vacant and blighted properties) with a $25,000 credit cap per building and rehabilitation costs must exceed $10,000. 20% federal income tax credit on the rehabilitating cost of a certified historic property for income-producing purposes; Hotels, home offices and apartments in private residences are eligible for credits on the basis of square footage. 25% state income tax credit may apply for eligible homeowners (50% for vacant and blighted properties in the Historic District). Eligible expenses must exceed $10,000
- Interior Design technical assistance (business property only) is a complimentary service by Louisiana State Main Street Program.
- Louisiana Redevelopment Incentive Grant Program (formerly known as a Facade Grant, for commercial property in the Plaquemine Historit District only)
- National Park Service Federal Historic Preservation Tax Incentives
- Renovation/Restoration technical assistance
- State Restoration Tax Abatement: The assessed value and the property assessment can be frozen at the pre-improvement level for 5 years and may be renewed for an additional 5 years. This tax program can be used in combination with the federal historic preservation tax credit program. No set minimum amount of money an owner must spend in order to qualify. The only exception: Owner-occupied dwelling projects must be valued at least 25% of the assessed valuation of the building. In this case, the assessed valuation is generally figured at 10% of the appraised market value