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The City can attract more business by offering Property Tax Breaks and ultimately grow its economy.
What is Business?
Business is the activity of making one's living or making money by producing or buying and selling products. It is also "any activity or enterprise entered into for profit.
What is Economy?
An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. In general, it is defined 'as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'.
What is meant by the term Tax Breaks?
The term tax break refers to a benefit the government offers that reduces your total tax liability. Tax breaks are made possible by tax laws and typically come in the form of credits and deductions. Other tax breaks include exemptions and excluding certain types of income from your state or federal tax return.
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