Tax Abatement Program

The purpose of the Tax Abatement Program is to encourage significant improvements to older residential, commercial and industrial properties throughout the city.  The program offers taxpayers an opportunity to improve residential, commercial and industrial structures and not pay full taxes on the value of those improvements for 14 years. Qualifying structures must be at least 15 years old for residential property (single-family and four or fewer rental units) or 40 years old for commercial and industrial property. The age requirement is 20 years old if the property is located in an Enterprise Zone.   

Some basic requirements for the Tax Abatement Program are:

• The rehabilitation must be for an existing residential, commercial or industrial structure.
• The structure must be at least 15 years old (residential), 40 years old (commercial) or 20 years old (Enterprise Zone).
• The improvements to the structure must increase the assessed of the improvement by 20% residential properties or 40% for commercial properties.
• Detailed plans of all proposed work must be submitted for review with the application.
• Taxes must be current.
• Any demolition and/or rehabilitation work should not begin until the project has been approved by the City Real Estate Assessor. Demolition and/or rehabilitation work performed prior to the receipt of approval letter from the City Assessor will not be included in the abated value. Appropriate building permits must be obtained.
• The application must be submitted by the current owner – not a potential or prospective owner.   
• All work must be completed within 3 years from the date of the approval letter.
• Fees:
  • Four or fewer residential units: $50.00
  • Five or more residential units: $250.00
  • Residential condominium conversion: $50.00 per unit
  • Commercial condominium conversion $250.00 per unit.
  • All other commercial $250.00