Overview: New commercial construction or renovation resulting in increased real property value may be eligible for tax exemptions on that new investment. Real property tax incentives may be granted for projects involving commercial remodeling or new construction. Projects must be consistent with local zoning as well as community objectives, and be located in the designated CRA districts. See Zoning Map
Benefits: Substantial real estate property tax reduction.
CRA Agreement: In order to receive a real property tax abatement, an agreement must be entered between the local jurisdiction and the investor prior to the commencement of the project. The first step in reaching such an agreement is a detailed application must be filed. The application will then be considered through a series of public hearings, including before the Township CRA Committee, the Board of Trustees, and the County Commissioners.
Rate/Terms: The value of the incentive is negotiated individually for commercial projects. Typical tax abatements granted are in the range of 50% for a ten-year period and are based upon the amount of increased property value attributed to new construction and/or remodeling, as well as new jobs brought to the community.
Application: Symmes Township partners with Hamilton County's economic development agency, Alloy Development, and the Hamilton County Board of County Commissioners to administer the program and approve tax abatements. To obtain further information, please contact Alloy Development (contacts below) or the Township Administrator. Investors meeting the local criteria must apply to Alloy Development who then will coordinate the application process with Symmes Township.