Benefits for Property Construction

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Benefits for Property Construction

Finance administers a number of benefits for property construction in the form exemptions and abatements. Exemptions lower the amount of tax you owe by reducing your property's assessed value. Abatements reduce your taxes by applying credits to the amount of taxes you owe.

Click on the following links to learn more about each benefit:

421a Partial Tax Exemption for New Multiple Dwellings

421b Partial Tax Exemption for New Construction or Substantial Rehabilitation of Owner-Occupied One- and Two-Family Homes

421g (Expired on June 30, 2006)

Clean Energy Systems Exemption

Commercial Expansion Program (CEP)

Commercial Rent Tax (CRT) Special Reduction

Commercial Revitalization Program (CRP)

Division of Alternative Management Program (DAMP)

Green Roof Tax Abatement

Industrial and Commercial Abatement Program (ICAP)

Industrial and Commercial Incentive Program (ICIP)

J-51 Tax Exemption and Abatement for Residential Rehabilitation or Conversion to Multiple Dwellings

Payment in Lieu of Taxes (PILOT) Agreements

Solar Electric Generating Systems Tax Abatement

Urban Development Action Area Program (UDAAP)