The City of Cincinnati offers its CRA property tax abatement for new construction or renovation of a commercial building or multi-unit (4 or more units) residential building. The amount of the abatement varies between projects and depends upon the taxable value of the improvements that are made to a property. To qualify, the company must demonstrate that the project is not financially viable without the abatement.  

The City also offers an abatement for projects that achieve LEED certification (Please see: LEED-CRA Abatement).


How does a CRA Abatement work?
Suppose a business enters into an agreement with the City to invest $1 million to renovate its commercial property. In this case, the abatement is for 75% of the new value for a 12-year term.

The maximum abatement, net of a payment to the school district, is 75% of the new taxable value.  For commercial projects: The maximum term for renovation is 12 years; for new construction it is 15 years.  For multi-unit residential projects: The maximum term for renovation is 8 years; for new construction it is also 8 years.

Which projects are eligible?
• Minimum investment of $40,000 required.
• Project results in net new job creation or job retention.
• Company demonstrates why the incentive is needed.
• The project cannot begin prior to City approval.

Fees:
There is a $750 application fee payable to the Ohio Department of Development. There is also an annual fee of 1% of the value of the abatement (minimum $250/maximum $2,500).


Links:
Application (PDF)
Fact Sheet (PDF)

Contact:
Eric Denson, Senior Community Development Analyst
Phone: (513) 352-4981
Fax: (513) 352-6257
eric.denson@cincinnati-oh.gov

*If the project site is located in the Central Business District, please contact the City Economic Development Division at www.choosecincy.com.