Texas has re-introduced an exciting new tax incentive, the Texas Job and Investment Tax Credit (JETI) under Section 403. This incentive program is intended to replace the popular Section 313 program that expired on December 31, 2022, and has been fine-tuned to reduce the amount of tax previously abated under its predecessor, limit eligible projects, and add oversight into the abatement process.
As you go through your regularly-scheduled year-end financial review - and if this is your first time, congratulations on getting it on the schedule! - it’s worth remembering that Uncle Sam does provide a deduction for any and all real estate taxes, as well as interest, that you have paid during the year.
