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taxes for 3 years, 5 years, 7 years or 10 years, or any combination in between. But the term <br />of the residential tax abatement program shall be uniform for all participants. <br />4. Percentage of Abatement — City may abate any percentage of the taxes (zero — 100%) <br />over the term of the tax abatement agreement (10-year maximum). Alternatively, the City <br />Council could create a program where the percentage of tax abatement decreases over <br />time, such as the example below: <br />Year 1 — 100% abatement <br />Year 2 - 100% <br />Year 3 — 100% <br />Year 4 - 80% <br />Year 5 - 60% <br />Year 6 - 40% <br />Year 7 - 20% (final year) <br />5. Eligibility — The City Council must decide whether the Residential Tax Abatement <br />Program applies only to single-family houses or whether duplexes, triplexes, quadplexes <br />and multi-family structures (apartment buildings) are also eligible for this residential tax <br />abatement program. <br />BUDGET: This program will have an impact on ad valorem taxes that are abated on new <br />improvements to residential structures, but only for the term of the tax abatement agreement. <br />RECOMMENDATION: Establish Policies and Procedures for a Residential Tax Abatement <br />Program for the City of Paris, Texas. <br />L-� �� <br />