Property Tax Abatements

Summary

Property Tax Abatements are available from the City of Belton and Bell County for new improvements to real property. The threshold requirement for this program is an investment in real property of at least $250,000, a $1,000,000 investment in personal property or the creation of a minimum of 25 jobs. The property must be located in, or able to be designated as, a Reinvestment Zone, as designated by the City of Belton. Additionally, the facility must qualify as an authorized facility. BEDC staff will facilitate the tax abatement request and application process with the City and County.

Projects seeking tax abatement may also contact the City of Belton to determine eligibility. Following qualification, formal applications for abatement must be approved by the Belton City Council. Abatement terms are up to 5 years and the amounts range from 70% to 100% of eligible real and/or personal property annually.

Tax Abatements are also available in the Downtown Development District and require a minimum investment of $25,000 for real property, a $100,000 investment in personal property, or the creation of a minimum of 5 jobs.