The EDC Board of Directors will entertain all tax incentive opportunities. Please contact Asst. Director Glenn Goolsby by telephone at 210.695.5910 or by email at firstname.lastname@example.org should you have development or business proposals.
Old Town Helotes Tax Abatement Program
The Helotes City Council approved a Tax Abatement Program within the Old Town Helotes Special District on September 11, 2008. City and EDC staff are currently investigating the use of tax abatements within other commercial areas of Helotes.
OTH Tax Abatement Program Guidelines:
New construction or renovations;
Improvements greater than $10,000;
50% municipal property tax abatement on qualifying expenditures;
10 year maximum term; and
City Council approval required before construction.
Old Town Helotes Tax Abatement Ordinance - PDF
Tax Abatement Program
A tax abatement is an agreement between the City of Helotes and the property owner that exempts all or part of the increase in the ad valorem tax applicable to real property and/or tangible personal property from taxation for a period not to exceed 10 years. Tax abatements are not automatic, and applications must be made to the City Council.
Tax Abatements are created by authority of the Tax Abatement Act, Texas Tax Code, Chapter 312.
Chapter 380 Agreement Program
380 Agreements allow cities to provide loans, grants, city personnel, and city services for the promotion and encouragement of economic development. Often these incentives are paid through increases in sales or property taxes generated by the project. Chapter 380 Agreements are created by the authority under Section 380.001 of the Local Government Code.
Chapter 380 Economic Development Incentives - PDF
Tax Increment Reinvestment Zones
Also referred to as tax increment financing (TIF), these special zones are created by the City Council to attract new investment to a specified area. TIRZs help finance the cost of redevelopment and encourage development in an area that would otherwise not attract sufficient market development in a timely manner. Taxes attributable to new improvements (tax increments) are set aside in a fund to finance public improvements within the boundaries of the zone.
Tax increment Reinvestment Zones are created by the authority of the Tax Increment Financing Act, Texas Tax Code, Chapter 311.
Tax Increment Financing Presentation to EDC and City Council - PDF