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Commissioners adopt tax abatement guidelines, raise minimum capital threshold to $10 million
Summary
The Commissioner's Court unanimously adopted tax abatement guidelines July 27 and adjusted the draft minimum capital expenditure from $5,000,000 to $10,000,000 after discussion with EDC staff about state norms and local expectations.
Titus County commissioners voted unanimously July 27 to adopt guidelines and criteria that will govern any future tax abatement agreements, agreeing to set a $10,000,000 minimum capital investment threshold in the county’s draft policy.
Kevin Carter, representing the county EDC, said the printed draft used a $5,000,000 threshold but that $10,000,000 is closer to what many Texas jurisdictions use. "I think $10,000,000 is probably about average through the state," Carter told the court, adding that revisions could be made in the form of the commissioners' motion. Commissioners moved and approved the guideline with the $10,000,000 adjustment.
The court’s action creates a local standard for capital investment and job/employee requirements that prospective applicants must meet to qualify for abatements under the county’s policy. Commissioners were explicit that adopting the guidelines does not guarantee any single project an abatement; each application will be considered later under the adopted criteria.
