Georgetown clears way for future tax abatements

City Briefs

The Westinghouse Road tax abatement zone is in south Georgetown near the Teravista development. (Courtesy of Georgetown)
The Westinghouse Road tax abatement zone is in south Georgetown near the Teravista development. (Courtesy of Georgetown)

Two tracts of land in Georgetown have been designated as reinvestment zones for potential future commercial-industrial tax abatements. 

Tax abatement agreements are made between the city and a developer, and make a property tax exempt from all or part of the value of the property in exchange for bringing a particular type of project to the area. 

Georgetown City Council approved the two re…