Qualifying businesses have the opportunity to apply for a property tax abatement on new value created as a result of the project. Tax abatements are available from Waller County and other jurisdictions, as applicable.
In general, Waller County prefers to use property tax abatements, for qualifying companies, as the primary incentive to assist existing and new companies. If you qualify and have submitted the application, the final step is to get approval from Waller County Commissioners' Court. They are the final authority for approving incentives.
Projects seeking tax abatement may contact the City to determine eligibility. Following qualification, formal applications for abatement are processed through the Office of Economic Development. Abatement terms are up to 10 years and the amount ranges up to 100% of real and personal property annually.
In order to encourage new green development, the City offers a LEED Tax Abatement incentive. This program is available to projects that qualify for the City's standard tax abatement and become LEED certified. The incentive provides a 100% abatement on the incremental cost of incorporating LEED improvements.
Requirements:
Minimum Value Added to Tax Rolls: $4 million Percent of Abatement Guided by a Tiered Structure
Duration: Maximum of 10 years
LEED Abatements: Minimum of $100k in Value
Basic: 1% Gold: 5% Silver: 2.5% Platinum: 10%
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