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POLICY OVERVIEW

The City of Carrollton is dedicated to achieving the highest quality of development, infrastructure, and quality of life for its citizens. These objectives are met, in part, by the enhancement and expansion of the city’s economy. Additionally, the competitive nature of other municipalities on the local, state and international levels necessitates additional inducements to attract business to the community. The City’s “pro-business” philosophy is designed not only to attract high quality companies but to retain them as well. These incentives are offered on a “case by case” review of each tax incentive application. Nothing herein shall imply or suggest that the City of Carrollton is precluded from considering other options which would further the best interests of the City. A reduction in Taxes may be granted by a tax abatement or a grant utilizing 380.001 of the Texas Local Government Code.

REVIEW CRITERIA

Any consideration for a tax reduction is reviewed by the Carrollton City Council. The review process is considered on the “Value Added” elements of the project. Other factors taken into consideration are total employment, inventory value and facility value. Specific considerations will include the degree to which the individual project furthers the goals and objectives of community, as well as the relative impact of the project.

A tax reduction applies to:

  • new construction activities, whether a new facility or expansion of an existing building
  • large inventory companies relocating or expanding in the City

The tax incentive is in the form of a rebate on the City of Carrollton real and/or personal property taxes.

VALUE OF INCENTIVES

After it has been determined that a tax reduction be offered, the approximate value of that incentive can be calculated from the following table. However, this table should only be used as a guide for incentives, since each project is evaluated individually.

 Value of Project  Terms of Reduction % of Reduction 
 $50,000,000 10 years  50%
 $35,000,000 9 years   50%
 $20,000,000 7 years  50%
 $10,000,000  5 years  50%
 $5,000,000  3 years  30%

Tax Incentive Application

Last updated: 7/1/2014 1:09:12 PM