The State of Texas allows local government to raise tax revenue through a property tax. This is a tax on real and business personal property. This includes inventory as of January 1 of a tax year. This is a challenge to companies that have large inventory costs. The Freeport Tax Exemption is an inventory tax incentive applied to products shipped into and out of the State of Texas within a six-month period.
For the state and local communities to stay competitive in these qualifying industries, the Texas Legislature has created an exemption to tax on inventory, allowing taxing jurisdictions to institute the Freeport Tax Exemption. This exemption is available from all of the cities in Waller County, except Katy. It is also available from Waller ISD, Royal ISD, and Hempstead ISD. If your business can benefit from this program, call the Waller County Appraisal District (979-921-0060) and complete the required paperwork.
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