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City of Amarillo adopts new tax abatement guidelines
Posted: 02.01.2012 at 6:20 AM Updated: 02.01.2012 at 7:20 AM
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AMARILLO, TEXAS -- Every two years, the City of Amarillo adopts new tax abatement guidelines for reinvestment zones, and Tuesday, City Commissioners did that, with only minor changes.
A property owner has a certain amount of time to earn that tax credit for making improvements to his property, but the owner has to be looking for success and growth in that improvement.
How did the guidelines change?
"The only difference between what they've done today and what they did in 2010 is adding eligibility for a project that's based on retaining existing jobs within the community to the previous category of jobs being added to the community," said City Manager Jarrett Atkinson.
City Commissioners also got this year's racial profiling report from the police chief, and just like in Canyon, the numbers show it is not an issue here.