Economic Development
 

The Corsicana Downtown Revitalization District

The Corsicana Downtown Revitalization District In accordance with the recently adopted Comprehensive Master Plan for the City of Corsicana, and in order to implement strategies that will serve to protect and preserve the Corsicana Downtown District as an integral part of our community's heritage, the City Council for the City of Corsicana and the Navarro County County Commissioner's Court have approved coinciding statutes and orders that create a Corsicana Downtown Revitalization District (District). Therefore, certain economic and tax incentives are available to property owners in the District for the purpose of encouraging reinvestment in their real properties thus promoting the revitalization of the Corsicana Downtown District.

These economic and tax incentives include the following:

  • A five (5) year "tax freeze" on any increases in City and/or County ad valorem property taxes as a result of construction, reconstruction, alteration, or repair that may result in an increase in the assessed value for ad valorem tax for the real property for City of Corsicana and/or for Navarro County.
  • Reinvestment tax abatement (credit) equal to the amount of investment for construction, reconstruction, alteration, or repair completed within a calendar year. The maximum tax abatement for a project shall not exceed the annual tax liability of the real property.

Below are the Guidelines for the Downtown Corsicana Revitalization District process, the Application for the Reinvestment Tax Credit, the Application for the Certtificate of Appropriateness, the City of Corsicana Ordinance, and coinciding Navarro County Commissioner's Court Order providing for these economic incentives for real properties located within this District.

Tax incentives for certain historic resources, specifically residential and non-residential property, are provided by City of Corsicana Ordinance No. 2325 (November 19, 2002) for Heritage Preservation . These historic resources shall be eligible for an Historical Appraised Tax Value Exemption of twenty-five percent (25%) of the appraised value of the property not to exceed twenty-five thousand dollars ($25,000.00), based on meeting all of the criteria as defined in City Ordinance No. 2325.

 

The Comprehensive Master Plan for the City of Corsicana, Texas (City) was adopted by the City Council on June 19, 2007. The Plan is a long range planning tool that recommends strategies to implement the vision contained in the document. Listed below are the components of the Plan that pertain specifically to the Downtown District which articulate the goals and objectives for this critically important district in our City. The Plan may be viewed in various parts or in its entirety and is found on the Comprehensive Master Plan page.