By DAVID LOPEZ
Special to the NEWS
The San Benito Economic Development Corporation has a past due balance of $29,848 for property located off I-69, past Circle K. The building, which the city bought for $690,000 in 2003, has been on sale since early 2019, and appraised at a value of $1.1 million.
EDC Executive Director Rebecca Castillo said that in May of 2021, the EDC applied for a tax exemption through the Cameron County Appraisal District since they are an economic development and governmental body, but they have not heard a response for approval yet.
“That process may last more than a year, and right now, with a pandemic, it’s even longer,” Castillo said. “We asked them if we would pay now, would we get our money back, and they do not know. It’s up to the tax entity whether we got a reimbursement or not, but more often than not, after you pay it, the exemption will be granted for future years but they will not return the money in your previous balance. So our board decided that we would hold off on paying it until we get an exemption.”
Castillo said the EDC’s legal counsel advised that they are perfectly qualified for the exemption as they are a governmental body, so they have decided to wait for approval.
The EDC has been paying over $30k annually, though Castillo said prior to 2019, they paid about $15k.
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