Cuero Development Corporation Cuero Development Corporation
“One of the Top Ten Coolest Small Towns in America” — BudgetTravel Magazine, 2010

Cost of Doing Business

Local Sales Tax Rate: 8.25%

Ad Valorem Property Tax ($100 of value)

  • City: 0.30168
  • County: 0.42170
  • County Road: 0.08033
  • School: 1.07003
  • Pecan Valley Water District: 0.01301

City Annual Taxable Retail Sales

Bonding Rating: A

Special District Tax

  • Hospital District: 0.13221
  • Drainage District: 0.06289

INCENTIVES

There are several tax abatement programs in effect in Cuero. Each has its own guidelines as follows:

Tax Abatement: Non-Housing

• If the eligible properties are of a value of at least $250,000 and will prevent the loss of employment, retain or create employment for at least 3 people, the taxes on such eligible property shall be abated as follows:

  • 1st Year: 100%
  • 2nd Year: 75%
  • 3rd Year: 50%
  • 4th Year: 25%

• If the eligible properties are of a value of at least $500,000 and will prevent the loss of employment, retain or create employment for at least 7 people, the taxes on such property shall be abated as follows:

  • 1st Year: 100%
  • 2nd Year: 100%
  • 3rd Year: 75%
  • 4th Year: 50%
  • 5th Year: 25%

• If the eligible properties are of a value of at least $1,000,000 and will prevent the loss of employment, or create employment for at least 15 people, the taxes on such eligible property shall be abated as follows:

  • 1st Year: 100%
  • 2nd Year: 100%
  • 3rd Year: 100%
  • 4th Year: 75%
  • 5th Year: 50%

• If the eligible properties are of a value of at least $15,000,000 and will prevent the loss of employment, retain or create employment for at least 25 people, the taxes on such eligible property shall be abated as follows:

  • 1st Year (including construction): 100%
  • 2nd Year: 100%
  • 3rd Year: 100%
  • 4th Year: 100%
  • 5th Year: 100%
  • 6th Year: 75%
  • 7th Year: 50%
  • 8th Year: 25%

Tax Abatement: Multi-Family Housing

• If the eligible properties are of a value of at least $320,000 and will prevent the loss of employment, retain or create employment for at least 1 person part time, the taxes on such eligible property shall be abated as follows:

  • 1st Year: 50%
  • 2nd Year: 40%
  • 3rd Year: 30%
  • 4th Year: 20%
  • 5th Year: 20%

• If the eligible properties are of a value of at least $1,000,000 and will prevent the loss of employment, retain or create employment for at least 1 person full time, the taxes on such eligible property shall be abated as follows:

  • 1st Year: 65%
  • 2nd Year: 65%
  • 3rd Year: 50%
  • 4th Year: 40%
  • 5th Year: 30%

• If the eligible properties are of a value of at least $3,500,000 and will prevent the loss of employment, retain or create employment for at least 2 people full time, the taxes on such eligible property shall be abated as follows:

  • 1st Year: 80%
  • 2nd Year: 80%
  • 3rd Year: 60%
  • 4th Year: 60%
  • 5th Year: 40%

Texas Workforce Solutions Offers:

  • Work Opportunity Tax Credit Program (A tax credit for employers who hire specific targeted groups of eligible job seekers.)

  • Tax Program (This program assists Texas employers in complying with the Texas Unemployment Compensation Act. Account Examiners perform audits and make collections.)

Local Incentives

  • Tax Abatement (Must still provide application for abatement.)(To receive tax abatement in a non-enterprise zone, a Tax Abatement Zone must be set up, requiring an application process.)

  • Stream-line Permitting

  • Electrical Overhead Construction (City of Cuero - Electric Utilities Department: Inside the City of Cuero 100% of Construction Cost.)

  • Electrical Underground Construction (City of Cuero - Electric Utilites Department: 5% reduction in cost of installation of underground electric system.)

  • Electrical Overhead & Underground (DeWitt County through City of Cuero Electric: Construction 5% reduction in the cost of installation of electric system on property owned by the City.)

  • Outside the City of Cuero Electric Service Area (GVEC will provide overhead hookup and will discuss discounts on underground service on a case by case basis.)

Workforce Training

The Golden Crescent Workforce Development Board has many training, education and employment-related programs. They are now working with local businesses and are active partners with public entities in developing training and other job-related programs that address the needs of local employers and residents.

Financial Assistance

The City of Cuero Revolving Loan Fund (revolving loans and infrastructure improvement grants): The RLF was created as a public sector financial tool to stimulate economic growth in the community. The purpose of the RLF is to establish a revolving loan fund and infrastructure improvements program to provide capital for private projects that would not be possible without assistance. It is funded by program income, a derivative of grants through the State and originates from the U.S. Department of Housing and Urban Development. It is not intended to take the place of or compete with local financial institutions. The difference between the two is that while the objective for financial institutions is to make a profit, the RLF's goal is to create jobs and capital formation in the private sector. It is also designed to fill in where other financial institutions may not be able to help. In accordance with national objectives, RLF funds are awarded for the purpose of creating new permanent jobs or permanently retaining existing jobs, primarily for low and moderate-income persons. In order to comply with the national objective, at least 51% of the permanent jobs created or retained by each business assisted by the RLF must be filled by persons who have a family income of less than 80% of the county median income. There are several guidelines that must be followed in order to be considered for the Loan Program or the Infrastructure Improvements Program. The Cuero Development Corporation has a small business loan program available as well.