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Neighborhood Investment Districts/Residental Tax Incentives | Columbus Department Of Development

111 North Front Street, 3rd Floor, Columbus, OH 43215

Buyers of a new single family home constructed in one of the NID/CRA designated areas; landlords who invest a substantial amount to upgrade rental property; buyers of condominiums converted from rental or commercial use.
Completed application.
Mon-Fri 8 am-5 pm.

Telephone.

None.

Franklin County, Ohio

Description

Property tax abatement on increased valuation due to property improvements in the Neighborhood Investment Districts (NID) or Community Reinvestment Areas (CRAs). Homebuyers who purchase new infill housing will continue to pay taxes on the land value of the home which will likely increase after construction. However, taxes on the value of the newly built home structure will be abated for 15 years. Owner-occupants of single family homes making improvements of at least 20% of the current tax value of the existing property, will be exempt from paying property taxes for 10 years on any increased value of their property due to improvement. Owners of rental property who make improvements of at least 50% of the current tax value of their property will be exempt from paying property taxes for 12 years on any increased value of their property due to improvement.

Data provided by

LSS 211 Central Ohio

Providing organization

Columbus Department Of Development

City department that facilitates economic opportunity and neighborhood revitilization efforts in City of Columbus.