Facade Improvement Program
The Façade Improvement Program is designed to encourage small, private businesses to reinvest in the community by making exterior improvements and appearance enhancements to their commercial building(s).
It is the Tahoka Economic Development’s position that attractive building facades support and encourage local business by having a significant effect on the overall desirability and marketability of the surrounding area. Beautification efforts attract customers/visitors and demonstrate the economic vitality of the community. This program is not intended for repairs or maintenance activities.
Contact us today for more information on the Facade Improvement Program for existing business. Click here to download an application.
Property Tax Abatements
Tax Abatements with the City of Tahoka are a specialized financing tool for targeted industries to reduce tax liabilities in order to draw private investment and assist with economic development within the city. The use of this incentive is for projects offering significant positive impact to the community where the project is located as determined by the Tahoka city council. Property tax abatements can be offered by cities, counties, and special districts pursuant to tax abatement agreements (not available from school districts).
*Note: in addition to real property, tax abatement agreements may also abate all or part of the value of tangible personal property (e.g. inventory or supplies). *See Texas Tax Code Chapter 312.
For more information, please visit the Texas Comptroller’s website and to view the Texas Comptroller’s Registry of Reinvestment zones and ad valorem tax abatements.
Chapter 380/381 Economic Development Agreements
The Local Government Code authorizes both municipalities and counties to offer incentives that will promote economic development on items such as commercial and retail projects.
Texas Economic Development Act
(“Ch. 313 Limitation on Appraised Value of Ad Valorem Taxation”):
Chapter 313 ISD Property Tax Abatements
Chapter 313 incentives give school districts the authority to enter into an agreement with a corporation or limited liability company that limits the appraised value of property for the maintenance and operations portion of school district property tax.