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Property Tax Abatement

Tax abatement on real and personal property improvements may be granted by all taxing entities in Kilgore except Kilgore Independent School District.  The company must meet requirements associated with the value of capital improvements and either job creation or payroll increases maintained throughout the term of the agreement.  The City of Kilgore will create a reinvestment zone and adopt a tax abatement agreement with companies according to the following two schedules. 
 
Tax Abatement Schedule I - Qualifications and Sliding Scale Rate
Capital Improvements
Full-Time Job Creation
Payroll Increase
$500,000
and
25 or More
or
$400,000 Annually
$1,000,000
and
5 or More
or
$80,000 Annually

ABATEMENT AMOUNT
Year
Percentage
1, 2, & 3
100%   
4
75%   
5
50%   
6
25%   
7
0%  

 

Tax Abatement Schedule II - Qualifications and Sliding Scale Rate
Capital Improvements
Full-Time Job Creation
Payroll Increase
$500,000
and
5 - 24
or
$200,000 Annually

ABATEMENT AMOUNT
Year
Percentage
1, 2, & 3
50.0%
4
37.5%
5
25.0%
6
12.5%
7
0%
For extraordinary projects with significant investment and job creation, the taxing entities will consider tax abatements up to 100% for a period of 10 years.

For a description of procedures click HERE.