Are you doing significant improvements to your home, 1-4 unit building
or even new construction?
Learn the details + the process to get it tax abated!
8 - 9 A.M. | Nov 14th
at Civitas 580 N 4th St #180, Columbus, OH 43215 - FREE PARKING
FREE EVENT - MUST REGISTER TO ATTEND
Hosted by Aaron Blevins, Bob Bickis Jr & Jeff Sheu, licensed Realtors + broker for SMART MOVE, REALTORS
Aaron is also the managing partner of Developing Local, and brings
over 15 years of experience in residential and commercial real estate.
Jeff is also the owner/operator of S & H Construction with
over a decade of experience with renovations, new construction + tax abatements.
Developing Local is a Residential and Commercial Development company specializing in Tax Abatement Programs, Historic Tax Credits and Multi-Family real estate. We help our clients make money!
COLUMBUS TAX ABATEMENT SUMMARY
All property owners will continue to pay existing taxes on the property
Homebuyers who purchase newly constructed housing will continue to pay taxes on the land and/or existing structures. However, taxes on the value of the newly built home structure will be abated for 15 years.
Owner-occupants of single family homes making improvements of at least 20% of the current market value of the existing property will be exempt from paying property taxes for 10 years on any increased value of their property due to improvement.
Owners of single or multi-family properties up to 4 units of rental property who make improvements of at least 50% of the current market value of their property will be exempt from paying property taxes for 12 years on any increased value of their property due to improvement.
Property tax exemptions will be based on increased valuation of the property, due to significant improvements.
AVAILABLE TAX ABATEMENT AREAS (see map below)
AC HUMKO CRA, Brewer’s Yard, Easton Square Place CRA, Fifth By Northwest CRA, Franklinton CRA, Hilltop NID, Jeffery Residential CRA, Linden NID, Livingston and James CRA, Milo Grogran CRA, Near East CRA, North Central CRA, Short North CRA, Southside CRA and Weinland Park CRA.
PHASES OF TAX ABATEMENT PROCESS
There are two phases of the Abatement Certification Process:
• Phase One - Pre Construction
• Phase Two - Post Construction
- Existing owner-occupants who upgrade their property within the designated NID areas
- Buyers of a newly constructed single family home within the designated NID areas;
- Landlords who invest 50% of the current market value of their rental property within the designated NID areas
- Buyers of condominiums (rental, converted or newly constructed).
MAP OF ELIGIBLE AREAS FOR TAX ABATEMENT: https://www.columbus.gov/uploadedFiles/Columbus/Departments/Development/CRA%20and%20NID.PDF