Brazos County commissioners hold a public hearing on proposed changes in giving economic development incentives.
During Tuesday’s (December 5) meeting, the commission’s general counsel Bruce Erratt said switching to a different state program means the incentive would not be added to the county’s property tax base.
Commissioner Steve Aldrich said that would help with the state mandated cap when property tax rates are set each year.
County judge Duane Peters says what won’t change, is that for corporations to receive a monetary benefit, they will still pay their property taxes and comply with an agreement. When that is done, the corporation receives a rebate.
Erratt also said requirements would include holding a public hearing before incentives could be approved.
With some exceptions, the proposed policy targets giving back 50 percent of property tax revenue for up to five years on a minimum investment of ten million dollars when other conditions are met.
A date for considering final action has not been set.
Click below to hear comments from the December 5, 2023 Brazos County commission meeting.