CAIA(LOCAL) - AD VALOREM TAXES: EXEMPTIONS AND PAYMENTS

No Discounts or Split Payments

Discount or split payment options shall not be provided for the payment of property taxes in the College District. [See CAI(LEGAL)]

Tax Abatements

The College District may provide tax abatements for qualified applicants. Submitted applications shall be reviewed and considered in accordance with the guidelines and criteria established by the City of Weatherford (City) and in accordance with the following:

  1. An applicant who entered into a tax abatement agreement with the City within the three months immediately preceding submission of the request to the College District shall qualify for consideration by the College District.
  2. Each applicant shall provide the College District a copy of the tax abatement application submitted to the City, evidence of the City's formal approval of the tax abatement, and a copy of the applicant's agreement with the City regarding the tax abatement.
  3. Successfully entering into a tax abatement agreement with the City shall not automatically entitle the applicant to a tax abatement from the College District, and it shall only represent that the applicant's request for a tax abatement is qualified for consideration by the College District.
  4. The College District shall not be required to offer to an applicant a tax abatement that is identical to the tax abatement entered into by the City and the applicant.

Special Consideration

An applicant whose request for a tax abatement does not qualify under the provisions listed above shall be permitted to submit a request to the College District for special consideration. Requests of this nature shall conform to the requirements set forth in the City's criteria.

Beneficial Request

Each request for a tax abatement from the College District shall be subject to the Board's determination as to whether granting of the request is beneficial to the College District's purpose of providing valuable educational and employment opportunities.

Board Approval

The Board retains the authority to approve or reject any application for tax abatement.

Tax Abatement Agreements

Upon determination that a requested tax abatement is beneficial to the College District, the Board shall provide formal approval by resolution at a regularly scheduled Board meeting. The resolution shall comply with all applicable laws and regulations as well as shall set forth the applicant's qualifications and the terms of the tax abatement agreement with the College District. The terms of the College District's tax abatement agreement shall be similar, but not necessarily identical, to the terms the applicant sets forth in the tax abatement agreement with the City.

Changes to Criteria

The College District shall annually review the City's criteria for tax abatements to determine if any changes are inconsistent with the College District's intended purpose under this policy or otherwise not in the College District's best interest. Changes to the College District's criteria for tax abatements shall be revised as necessary.

Weatherford College

CAIA(LOCAL)-X

UPDATE 38

DATE ISSUED: 5/13/2020