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CITY OF ELK RIVER <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />YEAR ENDING DECEMBER 31, 2016 <br />NOTE 14 TAX ABATEMENTS (CONTINUED) <br />In 2016 the City of Elk River had seven business subsidy agreements in place which <br />resulted in property taxes totaling $143,788 being abated. Individual agreements which <br />result in taxes abated in excess of 1% of the City's total tax levy would be disclosed <br />individually. There were no such payments made in 2016 in excess of this amount. <br />(73) <br />