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Blighted property bill gives developers 25 percent state tax credit

PASCAGOULA, Miss. (WLOX) – Eye sores in South Mississippi could soon become a sight for money for developers and real estate brokers could also see some benefits.

“Anytime we’re showing property and there’s slum or blight in the area or neighborhood, it pulls down on the values,” Aritt Davis said. “And maybe not necessarily the values as much as the perception of the potential buyers.”

Davis is a principal broker for Real LLC in Mississippi and says blighted properties play a huge role when showcasing a house to buyers. He says the recent actions in the legislature, like the elimination of the income tax over time, can potentially set up Mississippi in the long run.

“You put that in conjunction with bills like 1201 that’s going to address issues and put more property on the market in better conditions and putting those properties back on an active tax roll,” Davis said.

Meanwhile, some people who dream of having their property fixed up could also see some action done.

“With all these fences and the grass, it’s heartbreaking,” Moneeshea Dailey said.

Dailey’s heartbreak comes in the form of this property along Old Mobile Road. This is personal to her because it was an area she called home for 15 years, remembering how stores, flea markets and a laundry mat would just be across the street from her home. Now, she’s in the process of buying the property and developing it to offer much of what it had before, including resources for children.

“Rain, shine, sleet or snow, our children always have somewhere to go. It’s a family community development and this discovery center is going to be able to allow these families and children to discover new avenues about themselves whether it’s college advancement or sports,” Dailey said. “We have a great area here in Pascagoula, so why can’t we have to continue to have this one here? We make new developments all over the city. It’s time to start right here and now is the best time.”

While Davis says this could give developers something to look forward to in Mississippi, Dailey is hoping the 13-acre property that once served a community can make a comeback.

“It’s costly, but that shouldn’t make you lose hope. There’s still chances and opportunities to bring back morale in the community and we need to start right here,” Dailey said.

To qualify under the blight property law, developers would need to invest at least $50,000 in homes or $100,000 in commercial properties. After renovations, the property must be sold to an owner-occupant or leased to a business.

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