Tax Abatement
Qualifying businesses considering locate in Sanger have the opportunity to apply for a property tax abatement on new value created as a result of the project.
Tax Abatement may be offered in two categories:
1. Real Property; and/or
2. Business and Personal Property
Real property abatements may be offered to applicants, which will pursue the construction of new or expanded facilities in which to house the applicable project. The abatement may apply only to the value of improvements made.
Business Personal property abatements may be offered to applicants, which will pursue the purchase or long-term lease of existing facilities. The abatement will apply to the value of new personal property brought into the taxing jurisdiction.
Once a determination has been made that a tax abatement may be offered, the value and term of the abatement will be determined on a case by case basis.