Commissioners Court Special Meeting
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5.
Meeting Date:
06/04/2020
Disscussion and possible action to adopt Resolution to participate in Tax Abatements and Adopt Guidelines
Submitted for:
Nathan Bratton
Submitted By:
Nathan Bratton
Department:
Civil Legal Division
Information
Subject:
Discussion and possible action to adopt a Resolution Electing to Participate in Tax Abatements and Adopting a Tax Abatement Policy, Guidelines and Criteria.
Issue
: Webb County may not grant tax abatements unless it participates in a tax abatement program and adopts Guidelines, Policies and Criteria for granting tax abatements.
Solution:
Adopt a Resolution which confirms participation in a tax abatement program and adopt Guideline, Policies and Criteria for granting tax Abatements.
Result
: Webb County may grant tax abatements to qualified businesses.
Background:
The adoption of a resolution and guidelines is necessary to offer tax abatements. The Court held a public hearing on the tax abatement guidelines at its meeting of May 26m 2020.
Previous Court Action:
Fiscal Impact
Budget Account Number:
n/a
Funding Source:
n/a
Balance:
n/a
Financial Impact:
The granting of tax abatements may have an efffect on the County's ad valorem revenue.
Attachments
Tax Abatement Resolution and Guidelines
Tax Abatement Application
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