Tax abatement law to be extended?

The Texas law that allows Texas counties, municipalities and school districts to offer local property tax incentive options to attract economic development is set to expire on September 1, 2019. This so-called “Tax abatement” option of the Texas Tax Code is the enabling legislation that allows local Texas governing entities the legal option to offer certain property tax “abatements” to businesses from paying property taxes on new development investments or existing property improvements for a set period of time.

Texas District 21 State Representative Dade Phelan has filed House Bill 2438 to extend local tax incentive options for economic development.

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