Property taxes shown on this website are estimated based on 2017 assessments and the rate for the tax year ending June 20, 2018. That rate is $0.80 per $100 of assessed value.
Homes in the Old West End that are 50 years old or more (nearly 100% of them) are eligible for property tax abatements, also called partial exemptions. In essence, the increase in appraised value of a rehabilitated home is not taxed for a period of fifteen (15) years. Particularly for large rehab projects, this represents a substantial savings.
There are a number of conditions that must be met before a tax abatement can apply, including:
- The abatement must be requested BEFORE work begins and a $50 application fee paid,
- The improvements must result in an increase of 25% or more in appraised value,
- The rehab must NOT increase the square footage of the property by more than fifteen (15) percent,
- If required, a Certificate of Appropriateness is acquired from the Commission of Architectural Review,
- The appropriate building permits must be acquired,
- Work must be completed within two years of application,
- The property must remain residential for the abatement to continue, and
- Local taxes and utility payments must be current.
A copy of the Real Estate Tax Abatement Program brochure and application can be found here.
For applications or additional information, please contact the city’s Economic Development Department at 434-793-1753.