Model X is fitted with a tow hitch. 5000 lbs. towing capacity with 500 lbs. max tongue weight. 500 lbs. hitch weight would not cause the X to squat at all because of the suspension system it uses.
Vastly different from a Prius that isn't even available with a hitch from the factory. Serves to tell me that equipping one with a hitch would not be advisable. 
Not sure what the implement in question weighs but there a lot of loads being towed that exceed hitch capacities and braking capacities of the tow vehicle.