City staffers estimate the tax breaks will be worth about $235,000 over three years for the $16.4 million development.
The San Marcos City Council has signed off on hundreds of thousands of dollars in tax breaks for an industrial project that staffers say could generate jobs for the city. The council unanimously voted to approve a property tax break estimated at $235,656 over three years for a planned $16.4 million, 98,296-square-foot industrial project on nine acres just off Interstate 35 at 500 Wonder World Drive .
Construction on the project is expected to begin in October, according to city documents. Over 10 years, the city estimates it will collect $971,000 in property tax revenue from the project. It estimates Hays County will collect $636,000 in property tax revenue and the San Marcos Consolidated School District $537,000 over the same period. The city also expects the project to generate an undetermined amount of jobs, according to city documents.
San Marcos Consolidated San Marcos Police Department San Marcos Austin Interstate 35 500 Wonder World Drive Hays County Project Snapdragon BRE Group 500 Wonder World 2022 LP
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