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Urban Revitalization Programs
Urban Revitalization Programs
The City of Clinton offers several Tax Abatement incentives for renovating homes, building new homes, multi-residential and commercial renovations and new commercial construction:
1. City-Wide Residential Urban Revitalization
The City has a City-wide Urban Revitalization Program for residential housing. Eligible projects can result in up to $75,000 of added assessed valuation being 100% exempt from taxation for a period of 5 years (State Code maximum).
2. Blighted Residential Urban Revitalization
In blighted areas of the City, eligible projects for residential properties can result in all added assessed valuation being 100% exempt from taxation for a period of 5 years.
Blighted areas maps:
3. City-Wide Multi-residential Urban Revitalization
The City has a City-wide Multi-Residential Urban Revitalization Program for multi-residential housing units. Eligible projects can result in all added assessed valuation being 100% exempt from taxation for a period of 5 years.
4. Commercial Revitalization Program (Select Areas)
The City has select Commercial Revitalization Program areas where eligible projects can result in all added assessed valuation being 100% exempt from taxation for a period of 3 years.
Qualifications
Eligible projects must include qualified improvements. The actual assessed value of the property must increase by at least 5% for properties assessed as residential. The actual assessed value of the property must increase by at least 10% for properties assessed as commercial, industrial, or properties that are assessed as residential with 3 or more separate dwelling units.
Application
To ensure timely processing, applicants are encouraged to submit applications no later than December 31st of each year to the Building and Neighborhood Services Department, together with the $25 application fee. Applications must be submitted no later than January of each year in order to be processed. Applications are subject to Council approval and County Assessor processing.