Local governments use property tax incentives to pursue a variety of economic development goals. Potential goals include increasing income or employment, improving fiscal health and promoting urban revitalization.
JETI enables a company, school district and Governor’s office to enter into an agreement that diverts some of the district’s tax income to the company. This is contigent on job creation and investment minimums.
The Freeport and Goods in Transit Exemptions are personal property tax exemptions for goods that are entering or passing through Texas.
Tax increment financing redirects property tax in a geographic area designated as a Tax Increment Reinvestment Zone (TIRZ) to pay for improvements in the zone.
A tax abatement exempts all or part of the increase in the value of property and/or tangible personal property from taxation for a period not to exceed 10 years.
An appraised value limitation is an agreement between a taxpayer and a school district in which the taxpayer proposes to build or install property — and create jobs meeting certain requirements — in exchange for a 10-year limitation on the taxpayer’s property value.
For additional information, contact the Data Analysis and Transparency Division via email or at 844-519-5672.