Tax abatements are reductions in the amount of taxes an individual or company is responsible for paying. Property tax abatements are offered by some cities in the form of programs that reduce or eliminate property tax payments on qualifying property for a set amount of time to be determined on an individual case basis. These abatement programs are focused on attracting revenue to those areas that need the influx of urban renewal in an attempt to revitalize those areas with business, jobs or local infrastructure.
The City of Baytown resolution number 2570 (PDF) addresses the resolution of the city council of the City of Baytown, Texas, electing to become eligible to participate in tax abatement pursuant to the property redevelopment and tax abatement act.