Restoration Tax Abatement
Property tax abatement: Provides 100% abatement for up to 10 years for the rehabilitation of an existing structure based on assessed valuation of property prior to beginning of improvements.
Eligibility (Not Comprehensive)
Must be located in a qualifying district and approved by local governing authority which includes: Economic Development Districts, Downtown Development Districts, Historic Districts, and those listed on the National Register of Historic Places
Eligible Expenses include: Actual building and materials investment, machinery and equipment investment and labor and engineering expenses.