Community Reinvestment Areas(CRA's) provide tax abatement to promote new construction or rehabilitation of existing residential, commercial or industrial structures. The program gives tax breaks on the increased property value of approved structures within the designated areas of Toledo.
      Approved projects are exempt from paying any increased taxes caused by the improvements for a specified time period. The tax exempt period begins the calendar year after certification is completed by the county auditor.
     Major improvements or a combination of minor improvements and general maintenance items may increase the taxable value of your property and result in CRA eligibility. Some examples of major improvements that would qualify for tax abatement would be building a new porch, remodeling an attic into a living area, new additions to the existing structure, installing a sunroom, or, several normal maintenance items in conjunction with each other (complete rehabilitation.)
     For existing 1 and 2 family dwellings the minimum cost of improvements must be at least $2500 to qualify for a 10 year tax abatement. An existing dwelling of more than 2 units must have a minimum improvement cost of $5000 to qualify for a 12 year tax abatement. Existing commercial and industrial structures must have $5000 minimum improvement cost to qualify for 12 years of abatement.
     Neighborhoods In Partnership has CRA applications available and we would be happy to give you additional information on Community Reinvestment Areas, including maintenance items that might result in CRA eligibility. Please call or visit our offices.

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