Local Incentive

Tax Abatement

Summary

Qualifying businesses considering locate in Kyle have the opportunity to apply for a property tax abatement on new value created as a result of the project. 

A tax abatement is a local agreement between a taxpayer and a taxing unit that exempts all or part of the increase in  the value of the real property and/or tangible personal property from taxation for a period not to exceed 10 years. Tax abatements are an economic development tool available to cities, counties and special districts to attract new industries and to encourage the retention and development of existing businesses through property tax exemptions or reductions.

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%