Available Incentives

Tax abatement programs reduce or eliminate the amount of property tax property owners pay on new construction or rehabilitation on major improvements. The purpose of these programs is to attract buyers to locations with lowers demand, such as city neighborhoods being revitalized. Economic qualifications include an increase to the appraised value of the property equal to or in excess of $500,000. The company must add a minimum of ten (10) full-time positions. For Victoria, abatements are granted for up to eight (8) years.

Click here to review previous Tax Abatements with the City of Victoria.

Click Here

Property Assessed Clean Energy (TX-PACE) is a proven financial tool that incentivizes Texas' property owners to upgrade facility infrastructure with little or no capital outlay. Approved by State legislation and established by local governments, TX-PACE programs enable owners to lower their operating costs and use the savings to pay for eligible water conservation, energy efficiency, resiliency, and distributed generation projects. Owners gain access to private, affordable, long-term (typically 10-20 years) financing that is not available through traditional funding avenues.

Click Here

The Development Corporation Act of 1979 gives cities the ability to finance new and expanded business enterprises in their local communities via economic development corporations (EDC) and adopted sales taxes. The Victoria EDC is Type B, indicating it can fund industrial development projects, job training classes, parks, affordable housing and more.

TIRZs are special zones created by City Council to attract new investment in an area. They act as a tool for local governments to use to finance public improvements and infrastructure within a defined area.

What is a TIRZ?
Victoria Downtown TIRZ Map

Opportunity Zones is a new community development program established by the United States Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Qualified Opportunity Funds (QOFs) that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory.

Click Here

Chapter 380 of the Local Government Code allows for the governing body of a municipality to "establish and provide for the administration of one or more programs, including programs for making loans and grants of public money and providing personnel and services of the municipality, to promote state or local economic development and to stimulate business and commercial activity in the municipality."

Click Here