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Chapter 312 of the Texas Tax Code authorizes local governments to abate up to 100% of ad valorem property taxes on the value of new property improvements for up to 10 years, including real property, and tangible personal property. Chapter 312 also requires the City of San Antonio (City) to reauthorize the tax abatement guidelines every two years.
The growth, sustainability, and diversity of a regional economy and the adaptability and competitiveness of its workforce are critical goals to accomplish long-term prosperity. Communities must strategically plan and implement policies and incentive programs to achieve these goals. San Antonio’s tax abatement guidelines demonstrate the community’s desire to continue to develop a 21st century economy through global industry recruitment, local expansion, entrepreneurial development, and workforce development in accordance with the Jobs and Competitiveness section of the SA Tomorrow Comprehensive Plan and with the Forefront SA Strategic Plan for Economic Development.
These guidelines support the City’s priorities of (1) attracting new targeted industry jobs and investment, (2) maximizing the competitiveness of local businesses, and (3) supporting socioeconomic mobility for the residents of San Antonio.