Municipality sets terms of abatement by agreement; other taxing entities may choose to participate at identical terms.
- Maximum length of abatement is 10 years.
- Maximum amount of abatement in 100 percent.
- Base or existing value may not be abated; no abatement of inventories, supplies, etc.
TARRANT COUNTY POLICY:
- Minimum investment - New business: $5,000,000 Expansion: $3,000,000.
- Applicable to new construction and expansions/modernization.
- Abatement on eligible real and fixed personal property.
- Minimum job requirements include 25 jobs for new business and sustained employment level for existing business expansions.
- No abatement for companies moving within the County; considered if agreeable to both cities.
- Additional evaluation criteria: environmental impacts (air quality); diversity of employment base and commitment to a diversified workforce; minimum of 25 percent of new jobs created filled by Tarrant County residents; use of minimum 15 percent DBEs and 25 percent Tarrant County contractors in construction/suppliers/service contracts; provision of health care benefits.
- County approval of a tax abatement applies to both County and Hospital District ad valorem taxes.
- Company begins negotiations with City; City makes County aware of request and invites County comments during negotiations.
- Company makes application to County for participation in abatement.
- City formally advises County and other taxing entities of abatement agreement.
- Once approved by City, County action to participate must take place with 90 days of execution of the municipal abatement agreement.
Tax Abatement Policy (Adobe PDF) - 31KB
Tax Abatement Application (Microsoft Word) - 101KB
Tax Abatement Application (Adobe PDF) - 86KB
Tax Abatement Evaluation Report-Due April 30 annually (Microsoft Word) - 103KB
Tax Abatement Evaluation Report-Due April 30 annually (Adobe PDF) - 93KB
Instructions for Completing the Application and Evaluation (Microsoft Word) - 62KB
Instructions for Completing the Application and Evaluation (Adobe PDF) - 85KB