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.

YearTax Abatement Amount
1100%
295%
380%
465%
550%
640%
730%
820%
910%
105%

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