CRA Applications

Symmes Township
Community Reinvestment Area (CRA)

PROGRAM:  The CRA Program is aimed at encouraging new investment in Symmes Township through the rehabilitation and new construction of buildings and homes through property tax incentives.  Property tax abatement is available for increased valuation that results from the improvements to property.  The residential CRA’s goal is to stimulate rehabilitation, retain residents, and attract homeowners.  Commercial CRAs are designed to facilitate the retention and expansion of businesses and the retention and creation of jobs.

MAXIMUM AMOUNT:  The commercial/industrial CRA property tax abatement is up to 10 years for new construction or renovation, with up to a  50 % exemption and a minimum $5,000 in costs. 

The residential remodeling and new construction CRA property tax abatement has a term of 10 years, with 50% exemption, and a market value cap of $100,000 on the improvement value.  There is a minimum of $2.500 in costs for single family residences and a minimum of $5,000 in costs for 2-4 unit structures. 
 
The CRA runs along Montgomery Road in Symmes Township.  Please see contact information below for further information on the Symmes Township CRA boundary.

RATES/FEES:  Mixed use, commercial, and multi-unit residential developments (greater than 4 units) have an annual fee of 1% of the annual tax exemption, but not less than $500 or more than $2,500.  A $1,500 application fee is required by the Ohio Department of Development and Hamilton County Development Company.

                                           
                                                 
                       FACTS ABOUT TAX ABATEMENT

What is tax abatement?
Tax abatement is the temporary elimination of increased real property taxes, generally offered as a stimulus for new development or as an incentive for redevelopment.

What types of development qualify for tax abatement?
New construction of buildings
Improvements that cost more than $2,500 and would result in an increase in assessed value for real estate tax purposes

What kinds of improvements DO NOT increases taxes?

Exterior Improvements
            - Install new roof
            - Install aluminum siding; repair siding
            - Install storm windows and doors
            - Add windows, doors, awnings
            - Add/replace gutters and downspouts
            - Install outdoor lighting
            - Plant lawns, shrubs, plants
            - Normal repairs and maintenance will not increase the real estate tax assessment

Interior Improvements
            - Paint, wallpaper, redecorate
            - Resurface ceilings, walls, floors
            - Replace furnace (with one of same type)
            - Replace hot water heater
            - Replace oil or gas burner
            - Replace plumbing
            - Rewire completely
            - Add electrical circuits or outlets
            - Install or replace light fixtures

What types of improvements DO increase the assessed value of property?

Build new building
Add on to existing building
Install additional bathroom or toilet

Exemption value is determined by the Hamilton County Auditor’s Office.

To obtain a copy of the CRA form, please click on link below.

CRA Company Application
CRA Residential Application