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Incentives
Infrastructure Assistance
Tax increment financing is a tool that local governments can use to publicly finance needed structural improvements and enhanced infrastructure within a defined area. These improvements usually are undertaken to promote the visibility of existing businesses and to attract new commercial enterprises to the area. The statutes governing tax increment financing are located in Chapter 311 of the Texas Tax Code.

How the Program Works

The cost of improvements to the area is repaid by the contribution of future tax revenues by each taxing unit that levies taxes against the property. Specifically, each taxing unit can choose to dedicate all, a portion of, or none of the tax revenue that is attributable to the increase in property values due to to being within the reinvestment zone. The additional tax revenue that is received from the affected properties is referred to as the tax increment. Each taxing unit determines what percentage of its tax increment, if any, it will commit to repayment of the cost of financing the public improvements.

Restrictions
Tax increment financing may be initiated only by a city. If property is located outside the city limits (within the city's extraterritorial jurisdiction or beyond), it is not eligible for tax increment financing. Once a city has initiated tax increment financing, counties, school districts, and special districts are allowed to consider participating in the tax increment financing agreement.

The City of Missouri City has two Tax Increment Reinvestment Zones (TIRZ): TIRZ #1 is located in the northwestern area of the city and TIRZ #2 is located in the southeastern section of Missouri City.

Additional Incentive Programs

Contact
 Joe Esch, CCIM, EDFP
 
Economic Development
 Director
 
Ph: 281.403.8695

 1522 Texas Pkwy.
 Missouri City, TX 77489

 Hours
 Monday - Friday
 8:00 am - 5:00 pm