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Gainesville EDC pushes Cooke County to adopt Freeport exemption; court takes no action
Summary
Gainesville Economic Development Corporation representatives asked Cooke County commissioners to adopt a Freeport exemption under Texas Property Tax Code §112.51 to help retain and recruit warehouse and distribution businesses. Commissioners debated estimated revenue impacts and requested further review; no action was taken.
Representatives of the Gainesville Economic Development Corporation urged Cooke County commissioners on Tuesday to adopt a Freeport exemption under Texas Property Tax Code §112.51, saying the tax tool is important to retain and recruit warehouse and distribution employers.
Will Preston, vice president of the Gainesville EDC, told the court the exemption applies only to inventory that arrives in the state and is shipped out within 175 days. “Freeport is really important. It's a great economic development tool,” Preston said, adding that the exemption is different from a goods-in-transit exemption and must be applied for through the appraisal process.
The request matters…
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