Economic Development Assistant Grant Application
Download application here.
Enterprise Zone
Haltom City has an Enterprise Zone designated by the State of Texas. Qualified businesses located in enterprise zones may be eligible for local and state benefits. Local incentives include a reduced investment level for tax abatement qualification. State incentives, including sales tax refunds and a reduction in franchise tax, may be available to businesses nominated by the City Council as Enterprise Projects.
Special Districts
There are currently no Improvement Districts or Tax Increment Financing districts (TIFs) in Haltom City. The Economic Development Department would be willing to work with developers of large tracts to determine the costs and benefits associated with the creation of these districts.
Tax Abatement
The City Council may elect to grant a tax abatement of up to 50 percent for a period not to exceed 10 years. By State law, the tax on the value of existing property and improvements cannot be abated, so the abatement applies only to the value of the improvements. The minimum new investment required for tax abatement in Haltom City is $4 million.
Tax Rate
Haltom City's municipal ad valorem tax rate is $.646371 per $100 valuation.
Facade Improvement Program
The City of Haltom City Façade Improvement Program provides financial assistance to property owners or business tenants seeking to renovate or restore their exterior signage, lighting or commercial building facades. The Façade Improvement Program’s objectives are to improve the physical appearance of businesses and enhance the city’s commercial corridors. The Façade Improvement Program offers a 50% matching grant of up to $10,000 for the funding of well designed improvements. Improvements may include the restoration of architectural details, landscaping, and well proportioned signage and lighting.
Triple Freeport Exemption
Tarrant County, the Birdville ISD and the City of Haltom City have chosen to exempt "qualifying goods" from the ad valorem inventory property tax. This "triple freeport" exemption is available throughout Haltom City. "Qualifying goods" are those taken into inventory by a business and shipped to an out-of-state destination within 175 days of entering the business' property. It is not necessary to add value or repackage the goods. Products which are shipped to other points in Texas are ineligible, as is equipment used in packaging or production. Application for the exemption for all taxing entities in Tarrant County is made to the Tarrant Appraisal District.
Other Incentives
Depending on the level of investment and employment a business is considering bringing to the Haltom City area, additional incentives may be negotiated with the City. For more information on any incentive package, please call the Economic Development Department at 817 222-7723.
