Victoria city, county officials approve new tax abatement rules
Feb. 10, 2014 at 4 p.m.
Updated Feb. 9, 2014 at 8:10 p.m.
New tax abatement guidelines could open up opportunities in Victoria County to high-paying industries without regard for minimum employee requirements.
Victoria County Commissioners approved the change Monday, hoping new and existing businesses with fewer than 10 employees will take advantage of the benefits of tax abatements.
Under the new rule, a business with fewer than 10 employees could qualify for a tax abatement so long as employees earned 10 times the average county wage, which the Texas Workforce Commission lists as $822 weekly, said Victoria Economic Development President Dale Fowler.
Fowler said officials recognize value in smaller businesses.
County Judge Don Pozzi did not mention any specific business or cause that spurred the change but said there may be existing business owners who wish to apply.
According to the guidelines, tax abatements are for new facilities and improvements to existing facilities for modernization or expansion.
Pozzi said the goal is "to give businesses a great opportunity to avail themselves to the benefits of abatements."
Victoria City Council approved the changes during the Feb. 4 meeting.