Real Property Tax Abatement

Abatement Description

Real property tax abatement is a phase-in of the taxes generated by new assessed value from new building construction. Taxes on the land are not eligible for abatement. This discretionary incentive is granted by the City Council. Certain types of business uses also require action by the Economic Development Commission prior to the approval by the City Council.

Deduction Schedule

A 10-year deduction schedule is typically considered for commercial and industrial applicants.

Important Notice About Building Permits

Completion of the abatement approval process is required prior to the issuance of a building permit.

Online Forms, Applications & Documents

• Acknowledgement of Compliance with Policies
• City’s Tax Abatement Policies as Itemized on Acknowledgement of Compliance w/Policies
• Application for Tax Abatement Common Council (Form CCAP)
• Areas Eligible for Tax Abatement and Zoning and Plat of Subdivision Conditions
• Calendar of Required Meetings to Be Attended by Petitioner
• Checklist for Supporting Documentation Required for Evaluation of Compliance With Statement of Benefits
• Application for Deduction from Assessed Valuation of Structures in Economic Revitalization Areas (Form 322/RE)
• Compliance with Statement of Benefits - Real Estate Improvement (CF-1/Real)
• Deadlines and Information Required for Filing Tax Abatement Applications and Abatement Requests That Require EDC Action
• Economic Development Commission Application 
• Public Notice Posting Requirements and Affidavit Submission Prior to Common Council Public Hearing
• Statement of Benefits Real Estate Improvement (SB-1/Real)
• Statement in Regard to Appeals