Community Reinvestment Tax Abatement Program
A program designed to abate property taxes on the improvements only to an existing structure (home or business) for a period of 10 or 12 years - depending upon the costs of those improvements.
A New Structure may have property taxes abated for a period of 15 years. This does NOT include land values.
Percentage of taxes abated vary between 75% and 100% - depending upon what census tract the structure is located in.
Upon completion of your project, complete the top portion of two application forms (Two originals are needed), and attach a legal description of subject property and the actual cost verification.
No application will be processed without these documents.
Renewal Community
Select areas within the City of Youngstown are designated to receive Renewal Community tax incentives that include employment credits, a 0% tax on capital gains, and accelerated depreciation through Commercial Revitalization Deductions.