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Incentives - By Entity: City of Taylor
City of Taylor
Taxes
- Property Tax Rebate (City): The City of Taylor can provide your company a property tax rebate. The tax rebate period would start the first year that personal or real property is assessed by the Williamson Central Appraisal District. The rebate period is based on ten (10) years up to 50 percent.
- All personal property (machinery and equipment) is assumed to be depreciated at a ten (10) year life cycle.
- Freeport Exemption: The City of Taylor participates in the Freeport Exemption. This program allows companies to be exempt from personal property tax items in their inventory on January 1 that 1) will be forwarded out of Texas within 175 days of the date you acquire them or bring them into Texas and 2) are in Texas for assembling, storing, manufacturing, processing or fabricating purposes. (The company must file an application each year for this exemption.) Williamson County has also initiated the establishment of a Freeport Exemption program, but is still in the development stages.
- City Sales Tax Refund: The City of Taylor receives 2% of the 8.25% sales tax collected by the State of Texas on eligible items. During the construction phase and continuing throughout the normal course of business, your company will pay this sales tax. Some of the sales, i.e. building materials, machinery and equipment, electricity and natural gas purchased and consumed in the normal course of business would be refunded through the Enterprise Zone program.
- The City of Taylor has allocated one-half of one percent of sales tax revenues to property tax reduction, as approved by the voters of Taylor, so this revenue is not subject to refunds. Another one-half of one-percent of sales tax receipts are dedicated as a 4A sales tax to the Taylor EDC. We can calculate this benefit when it is determined approximately how much sales and use taxes would be collected by your project for sales to customers in Texas,.
- Building Permits/Fees: The City of Taylor can provide a discount of up to one hundred percent (100%) of the cost of building permits fees and impact fees.
- Plan Approvals: The City of Taylor offers FAST TRACK approval for all the permits required for construction. For example, site preparation drawings can be approved as soon as completed, and the site-work can begin immediately. Next, the foundation drawings can be submitted for approval, and when approved, the foundation work can begin for the entire project; and so on for each phase of construction. This approach has provided a process that allows construction to be completed sooner than forecast and typically under budget. In the event that some construction plans for advanced manufacturing systems exceed the technical expertise of the current planning and permitting staff at the City of Taylor, the city engineer may elect to submit the plans for review to a third party, using the same International Building Codes as the City of Taylor.
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