Taxes and Incentives
Real Estate Tax Structure Summary:
.342536 City of Fairfield, TX
1.264300 Fairfield, TX School District
.042070 Fairfield, TX Hospital District
.250000 Freestone County
Personal Tax Structure:
0% individual state income tax.
(No state income tax in Texas.)
Local Tax Structure:
8.25% total (6.25% + 2% local/Fairfield)
- Fairfield Industrial Development Corporation (FIDC) Potential Incentives for eligible Economic Development 4A Industrial Projects:
- Low Cost (Or Free) Industrial Park property to manufacturers. FIDC owns a 400 acre Industrial Park with 370 acres remaining for industrial development immediately located off Interstate 45 (On Exit 198) between Dallas and Houston.
- Land, Buildings, Facilities, Improvements and Expenditures related to: Manufacturing and Industrial Facilities, Distribution Center and Corporate Headquarters.
- Infrastructure Upgrades. (Business-related, sewer, utilities and site improvement.)
- Capital Grants and Loan Guarantees. (Through Texas Capital Fund)
- Loan Interest Forgiveness or Write Downs.
- Subordinate Loans to Financial Institutions.
- Workforce development grants (Skills Development Fund).
Potential City of Fairfield Incentives:
- Tax Abatement
- Chapter 380 Grants
- Freeport Tax Exemption
- Enterprise Zone
- Industrial Revenue Bonds
Policies or metrics used to determine financial assistance in the FIDC Industrial Park:
- Number of potential jobs to be created.
- Square footage of new facility for future taxation purposes.
- Level of capital investment for development.
- Potential Sales Tax revenues to be created.
- Wage levels of jobs to be created.