The abatement schedule is designed to provide the greatest possible value to the project early which in many cases may indicate a shorter term of abatement. The maximum term allowed for abatement on real property and fixed improvements is 10 years as defined by the State of Texas.
All tax abatement applications are subject to City Council approval. Abatements are submitted for City Council approval with the completed incentive recommendations as outlined in “Incentive Application Process and Timeline”. All abatement applications must be approved prior to the start of construction.
Texas PACE Financing
Both the City of Cameron and Milam County authorized the use of Texas PACE Clean Energy Financing for property improvements.
WHAT IS PACE? 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.
For more details visit www.texaspaceauthority.org or contact the Cameron Economic Development Office.