Universal City has committed to its Aviation District and Reunion District by officially designating the zones as tax-abatement eligible.
An abatement program is an agreement between a local taxing unit and a taxpayer that exempts at least part of the increase in the value of the property from taxation, according to the Texas Comptroller.
At its Aug. 19 meeting, City Council passed ordinances approving Aviation District Reinvestment Zone No. 1 and Reunion District Reinvestment Zone No. 1 as part of its consent agenda.
What you need to know
