How much of a tax abatement can I receive?

Below are the types and levels of tax abatements available: 

  • Residential Remodeling, 1 or 2 unit buildings: 100% for up to 10 years
  • Residential Remodeling, 3+ unit buildings: 100% for up to 12 years
  • Residential New Construction: 100% for up to 15 years
  • Commercial/Industrial Remodeling: 100% for up to 12 years
  • Commercial/Industrial New Construction: 100% for up to 15 years, with City Council approval

Term length is to be negotiated on a case-by-case basis. It is important to note that projects must add substantially to the taxable real property value in order to realize significant savings through an abatement. Projects involving new construction, significant expansions, and major rehabilitation (i.e. gutting/reconstructing the interior of a building) will generally add substantial taxable value. Smaller remodeling projects, such as replacing a roof, windows, siding, flooring, appliances, cabinets or furnishings may not result in any change in taxable value.

Show All Answers

1. What is a Community Reinvestment Area (CRA)?
2. How does a CRA tax abatement work?
3. How can a CRA tax abatement help me?
4. How can I qualify for a CRA tax abatement?
5. How much of a tax abatement can I receive?
6. How do I apply for a CRA tax abatement?
7. Who reviews and approves my CRA application?
8. Will a CRA tax abatement reduce the taxes that I paid on the property prior to new construction, expansion or renovation?
9. If I receive a CRA tax abatement, will my taxes go up or down during the abatement period if my property is re-assessed or if a tax levy is passed?
10. What happens to my tax bill at the end of the tax abatement period?
11. Why was this part of Xenia selected for the CRA, and not ALL of Xenia?