Agenda Packet - Laserfiche WebLink

Home Browse Search

(Updated 01-10-2022) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT APPENDIX A Term _ _ e.... _._._.. — ition. _ Abatement or Tax _ The full or partial exemption from ad valorem taxes of certain real and tangible personal � Abatement_PrOPerty in a Reinvestment done designated for economic development. _ _ poses. Agreement or The written legal agreement for tax abatement between a property owner and/or lessee and the Agreements Citi of Paris, Lamar County and Paris Junior Collme. Authorized A facility may be eligible for abatement if it is a facility used for manufacturing, research, Commercial or regional distribution, regional services, regional tourist entertainment, other basic industry, or Industrial Facility any primary jobs creating industry (see definitions below). All authorized facility definitions II ..ncJude buildings and structures, including fixed machinery and equipment used in operating c the facilit3`_ 1. Authorized The City Council of the City of Paris may also designate areas of the City where residential i Residential Facility properties may be considered for abatement of City taxes only. The City of Paris will approve , policies, criteria and guidelines seT_gate from these policies. gtheirresidential e- I off whicch is or will be the manufacture of tangible goods or materials or the FMaulufactunn acility r ds or materials by physical or chemical change. ]Facilities � p �eurpmog of manufactured products are also primarily engaged in assembling component parts considered manufacturing facilities. _ RegionalUsed primarily to receive, store, service, or distribute goods or materials where a majority of Distribution Facility the goods or services are distributed to points at least 100 miles from its location in the Taxing Jurisdictions of Paris and Tamar Coun . __ _ Regional Tourist Used in providing amusement/entertainment through the admission of the general public where Entertainment the majority of users reside at least 100 miles from the Taxing Jurisdictions and where the Facility majority of users are likely to stay in the Taxing Jurisdictions for more than one day and will i therefore likely utilize local restaurants and hotel/motel accommodations, or develop new tangible -Reser�chYFaciiity Used dev iT s sthereto.services to improvve or the nroductio _pro�_ceso Other Basic or l Not elsewhere described, used for the production of products which in the Service Industry ealthcare- creation of new jobs and bring new wealth into the Taxing Jurisdictions (e.g. healthcare- _ Primary yJabs related .d._.industries). rel .t..e_n—g - - _ _ � _� __ --•— -- crea_i"primary jobs" defined as a job that is available at a company for which indu—sy_ Creating Industry a majority of the products or services of that company are ultimately exported to regional, 1 or international markets infusing new dollars into the local economv.. . statewide nati4na , _�.� . Base Year Value J ®-._ — sed valueof eligible property as of January 1, preceding the date of execution of the " The asses agreement plus the agreed upon value of eligible property improvcments made after January 1, but before the execution of the agreement. The Base Year Value may be adjusted. either up or down fxomyear to year aster renditions by the Lamar County A1praisal District, _ - Employer —. The owner or lessee of property, who is applying for tax abatement and who will provide jobs and c�� u�- investment within the Reinvestment Zone or within the Enterprise Zone. _ � — —_ _ _ — .._. Zone Reinvestment Zone A An area where the Taxing Jurisdictions have decided to influence development patterns and the j is that will contribute to the development of the area through the use of attract major men tax abatement for specified improvements. These statues are found in Chapter 312 of the Texas Tax Code. _ Chapter 2303 of the Texas Government Code. f Enterl7riso Zone Aarm of land desip�ated as such under _ .40 ,._ Jaobb or Jobs � A_n "job" is when an individual works hours per week for an employer, and in the position the individual is provided the benefits normally offered by the employer, such as health insurance, vacation and some form of retirement benefit. A job is not a position filled for the employer as a worker or employee of an employment agency or employment service. "Jobs" also includes "Full-time Ecluivalent Jobs" defined below. _ _ Frdl�ime Equivalent The iurtsntion of the governing bodies is to provide a company the maximuam flexibility in running I (FTE) Jobs their business and making business decisions, especially related to staffing. The following definition of FTE will be reflected in all incentive agreements. An FTE is: 1. An individual working 40 hours per week in a jab defined above. 2. A number ofPart-time jobs where the hours worked in each such job is less than 40 hours per 8