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2022-002 - Authorizing the City to be Eligible to Participate in Property tax Abatements and Approving Guidelines and Criteria for Granting Tax Abatements
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2022-002 - Authorizing the City to be Eligible to Participate in Property tax Abatements and Approving Guidelines and Criteria for Granting Tax Abatements
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(Updated 01-10-2022) <br />POLICY STATEMENT <br />CRITERIA AND GUIDELINES FOR TAX ABATEMENT <br />I. General Purpose and Objectives. <br />The City of Paris (City) and Lamar County Government (County) (collectively, herein called the <br />"Taxing Jurisdictions") are committed to enhancing the competitiveness and expansion potential of <br />local industry; to attracting and encouraging new manufacturing industry and investment; to <br />improving the City of Paris, Lamar County and its infrastructure, which attracts and supports <br />development; and, to expanding the tax base, employment opportunities, and the overall quality of <br />life for its citizens. Therefore, the governing bodies of the Taxing Jurisdictions will give <br />consideration, on a case-by-case basis, to providing tax abatements to the owners of real and <br />personal property for projects that stimulate economic growth and diversification in the geographic <br />areas served by the Taxing Jurisdictions, according to state law and consistent with these policies, <br />criteria and guidelines. <br />Tax abatements may be made available to industrial, manufacturing, distribution, service facilities, <br />or any "primary jobs" creating industry as defined by the Economic Development Act of the State <br />of Texas. The facility must be currently in, or locating in the areas served by the Taxing <br />Jurisdictions, and located in a designated Enterprise Zone or Reinvestment Zone. New facilities <br />and structures as well as the expansion and modernization of existing facilities and structures, will <br />be considered. Evaluation of a tax abatement request will be based on the information provided in <br />the tax abatement application. However, the City of Paris and Lamar County are under no <br />obligation to provide tax abatements to any applicant. <br />The Paris City Council acts as the lead entity for projects located in the City limits. The Lamar <br />County Board of Commissioners acts as the lead entity for projects in Lamar County, which are <br />located outside of the City limits. All governing bodies of the Taxing Jurisdictions have adopted <br />like policies, criteria and guidelines and will consider tax abatement requests that qualify <br />thereunder. <br />II. Definitions. <br />Definitions are provided as an Appendix A. <br />III. Designation of a Reinvestment Zone. <br />For any facility located within the area served by the Taxing Jurisdictions to be eligible for tax <br />abatement it must meet the criteria for designation as a tax abatement reinvestment zone as set forth <br />in the Property Redevelopment and Tax Abatement Act, Texas Tax Code Chapter 312. The City <br />or County may designate an area as a reinvestment zone in accordance with the criteria and <br />procedural requirements set forth in the Property Redevelopment & Tax Abatement Act, as <br />amended (Texas Tax Code Sec. 312.401 (b)). Pursuant to Texas Tax Code Sec. 312.2011, <br />designation of an area as an enterprise zone under Chapter 2303 of the Texas Government Code <br />constitutes designation of the area as a reinvestment zone without further hearing or procedural <br />requirements other than those provided under said Chapter 2303. <br />IV. Tax Abatement Authorized. <br />The Taxing Jurisdictions, through their elected governing bodies, may agree in writing with the <br />owner and/or lessee of taxable real and/or personal property that is located in a reinvestment zone, <br />but that is not in an improvement project financed by tax increment bonds, to exempt from taxation <br />1 <br />EXHIBIT A <br />
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