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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionKermit Independent School District
Jurisdiction type: School district
Fiscal year ending In2019
Program nameValue Limitation Agreement
Program purpose: General Economic Development
Statutory authority: Texas Economic Development Act (Tax Code 313)
Abating jurisdiction(s): Kermit Independent School District
Applicable taxesProperty Tax
Method of abatement: Reduction of Taxable Property Value; Payment In Lieu of Taxes (PILOT)
Provisions for recapture: (not specified)
Gross revenue loss: $1,066,033
Reimbursement / offset: $506,825
Net revenue loss: $559,208
Type of loss: Active
Additional notes on dislosureGross revenue loss noted here is the sum of forgone tax revenue and Tax Credits. CAFR does not disclose the amount of state funding that is to be provided. Agreement made in 2008.