INCENTIVE DESCRIPTION

State:	TX
Incentive Type:	Property Tax Incentives
Incentive Title:	Property Tax Abatements
Description:	1. PROPERTY VALUE LIMITATION ABATEMENT is available for qualified businesses based upon the limitation on appraised value and school district tax rates. The business must enter into an agreement to create a specific number of jobs and type of investment. The abatement applies only to reinvestment zones and must be a qualified industry. 2. PROPERTY TAX CREDIT This credit offers a refund of state franchise tax and sales and use taxes for certain property. The refund equals the difference between the amount of tax actually paid and the amount of tax that would have been paid based on the value limitation exemption. 3. REINVESTMENT ZONE ABATEMENT A property tax abatement is allowed on a portion of the value of real and personal property located in a reinvestment zone for a period of up to 10 years. The abatement requires the qualified business enter into a tax abatement agreement. 4. FREE PORT EXEMPTION Freeport Exemption allows an exemption from ad valorem taxation on property that has been detained in the state for 175 days or less for the purposes of assembly, storage, manufacturing, processing, or fabricating. Individual taxing entities determine whether Freeport Exemption is allowed.
Eligibility Requirements:	1. Must be an eligible industry, must be in a reinvestment zone, must create new jobs, must meet investment criteria established by each county, must enter into an abatement agreement, must file all required applications 2. Must be a qualifying business, must timely file required applications, must have tax receipts, must have agreement with the school district. 3. Must be a qualifying industry, must be located in a reinvestment zone, must enter into an abatement agreement. 4. Must be an eligible business.
Geographic Restrictions:	Statewide
Granting Authority:	State of Texas
	TX Code Ch. 313, 9.105

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.