Residential Tax Abatements

Residential Tax Abatement Schedule

This program is applied citywide for residential properties. The residential tax abatement plan calls for a five-year abatement schedule. Eligible improvements on residential properties receive:

  • 80% abatement the 1st year
  • 65% abatement the 2nd year
  • 50% abatement the 3rd year
  • 35% abatement the 4th year
  • 20% abatement the 5th year

On the 6th year and every year thereafter taxes on the full value of the property would be assessed.