Tax abatements are granted by county, township and municipal governments for the purposes of economic development and urban renewal. Table PE-3 shows the value of the real property exempted using tax abatements, by abatement class, and by county. Each abatement class shown in the table is a program administered by county, township or municipal governments.
Municipalities collect the equivalent of the taxes exempted as service fees.
These are used to fund other projects through municipal redevelopment tax increment financing abatement programs and municipal urban renewal programs. Enterprise zones are designated by municipalities or by counties with the municipalities' consent. The purpose of an enterprise zone is to promote job creation and economic development in depressed areas by granting tax abatements to new or expanding enterprises within the boundaries of the designated zones. Figures shown are compiled from Exempted Real Property Abstracts filed by county auditors.