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ECONOMIC DEVELOPMENT

Victoria County works in partnership with local municipalities and other taxing authorities to offer tax abatements as part of an overall publicly supported incentive program.  The program is designed to create job opportunities that bring new economic advantages or strengthen the current economic base of our community.  As prescribed in Chapter 312 of the Texas Tax Code, the Victoria County Commissioners Court considers each request for tax abatement on a case by case basis, in accordance with the County’s  Tax Abatement Guidelines and Criteria.  The offer of incentives is tied to an analysis of the economic impact of the project on the community, including the amount of investment in real and personal property; the number, types and salaries of new and retained jobs; the provision of health and other benefits by the company; and other project specific factors.

These summaries are based on our most recently completed and audited fiscal year: 2022. Victoria County's fiscal year runs from January 1 - December 31.  The 2020 Census population of Victoria County is 91,319. Per capita is cost per citizen.

ECONOMIC DEVELOPMENT SUMMARY

Number of tax abatements granted: 
Number of jobs created/retained by agreements to date: 
Total capital investment received for agreements:
Total estimated taxes abated in year one to date: 
Total estimated taxes abated in year one per capita: 
Total estimated taxes abated for life of agreement:


 

 

The data outlined in the chart below demonstrates the total tax rebates or abatements, as well as the total number of active agreements by year for the last five completed fiscal years.
Term Definition
Abatement Reduction in level of taxation faced by the Company. Company does not pay portion of taxes at time of taxation. The County verifies compliance after. 
Rebate A reduction in the level of taxation faced by the Company. A refund of the tax is returned to the Company after compliance is verified by the County.
Payment Year The year in which payment is made by the County. Typically payment is made in October following the Performance Year
Performance Year The year in which Company performs requirements according to the Agreement.

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ADDITIONAL INFORMATION

For more information on Economic Development in Victoria County, visit the Victoria Economic Development Corporation website.

The Texas Comptroller Economic Development Search Tool allows users to view the Victoria County financial reports submitted to the State of Texas.

GASB Statement No. 77 Tax Abatement Disclosure provides guidance regarding the disclosure of taxes forgone in governmental financial statements.