The City’s Tax Abatement / Tax-Exemption Program offers three property tax-exemptions:
Single-family residences can receive an exemption from taxation on the first $75,000 of new taxable value on residential property improvements for five-years.
Qualified downtown commercial properties can receive a graduated, ten-year tax-exemption on new taxable improvements.
Qualified industrial properties can receive a graduated, ten-year tax-exemption on new taxable improvements.