In Andrews, progress, unity and community support have never been lacking. The spirit of cooperation and collaboration is still the prevailing attitude. With the 4A sales tax funds, tax abatement incentives in place, the establishment of the South Business Park with easy access to both U.S. Hwy 385 and State Hwy 176, the West Business Park and access to numerous state and federal incentive programs, Andrews is a community in motion. Andrews is a forward-looking city with an infrastructure, abundance of land, low operational costs and ease of conducting business that makes Andrews the notable standout as the West Texas city for companies seeking success.
Property in Andrews County is appraised at market value by the Andrews County Central Appraisal District. The City of Andrews, Andrews County and the Andrews County Hospital District offer abatement of the property tax for the value added to real property by construction, renovations, additions, or personal equipment to qualified businesses located within the designated Reinvestment Zone.
Tax Abatement Downloads
|2015 Tax Rate (per $100 of Assessed Value):|
|City of Andrews:||0.189|
*(Tax Abatment not available from the Andrews Independent School District)
|City Sales Tax Rate:||1.50%|
|Economic Dev. Tax:||0.5%|
|State Sales Tax Rate:||6.25%|
State Franchise Tax: 4.50%/2.50% (per $1,000 net taxable income/taxable capital)
Texas has no corporate or personal income tax.
The State of Texas Industrial Revenue Bond Program (IRB) is designed to provide tax-exempt or taxable financing for eligible industrial or manufacturing projects as defined in the Development Corporation Act of 1979 (Act). The Act allows cities, counties, conservation and reclamation districts to form non-profit industrial development corporations (IDCs) or authorities on their behalf. The purpose is to provide bonds for projects within their jurisdictions.
The IDC acts as a conduit through which monies are channeled. Generally, bond debt service is paid by the business under the terms of a lease, sale or loan agreement. As such, it does not constitute a debt or obligation of the governmental unit, the IDC or the State of Texas.
The Andrews Economic Development Corporation has the ability to issue Industrial Revenue Bonds for specific projects that have a positive economic benefit to Andrews.