The Texas Comptroller of Public Accounts offers a refund of State franchise and sales/use taxes paid by companies owning certain abated property. A company who meets the following three conditions may apply for a refund:
Paid property taxes to a school district on property that is located in a reinvestment zone established under Chapter 312.
Is exempt in whole or in part from property tax imposed by a city or county under a tax abatement agreement established under Chapter 312.
Is not in a tax abatement agreement with a school district.
The refund is equal to the amount of property taxes that would have been paid had the company entered into a school district abatement agreement with terms identical to the city or county abatement agreement, not to exceed the net state sales and use taxes and state franchise taxes paid or collected and remitted during that calendar year. The refund amount may also be limited by a statewide appropriation per year for this refund program.
For more information and assistance on this incentive, contact the Comptroller of Public Accounts at 800-252-9121 or 512-305-9999.