Commercial & Industrial Properties

Print

Property Tax Exemption

The project must be new construction or a substantial expansion/rehabilitation of an existing building and meet minimum project requirements for new building value and jobs. Only building improvements are eligible for the property tax exemption. Land and existing improvements (unless demolished) remain taxable. Applications are accepted anytime. Due to notice and public hearing requirements, allow approximately 6 weeks for approvals.

 

New Building Taxable Value

Full Time Equivalent (FTE) Jobs - Minimum Created or Retained

Term of Exemption

$150,000-249,999

1

2 years

$250,000-499,999

2

3 years

$500,000-999,999

3

4 years

$1 - $1.99 million

5

5 years

$2 - 2.99 million

6

6 years

 $3 - 3.99 million
7  7 years
 $4 - 4.99 million
 8  8 years
 $5 - 5.99 million
 9  9 years
 $6 - 6.99 million
 10  10 years
$7 - 7.99 million
 11  11 years
 $8 - 8.99 million
 12  12 years
 $9 - 9.99 million
 13  13 years
 $10 - 10.99 million
 14  14 years
 $11 - 11.99 million
 15  15 years
 $12 - 12.99 million
 16  16 years
 $13 - 13.99 million
 17  17 years
 $14 - 14.99 million
 18  18 years
 $15 - 15.99 million
 19  19 years
 $16 million and up
20
 20 years

Download Application

Download Timeline

For more information or to request an application, contact Economic Development or call 218.299.5441, toll free 877.833.6667.