Ohio Community Reinvestment Areas - Hamilton County Economic Development Office

Improvements resulting in real property tax increases may be eligible for tax exemptions within designated Community Reinvestment Areas.
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Benefits:

Substantial real estate property tax reduction.

Eligibility:

Real property investment incentives are available for projects involving remodeling or new construction, local retail and service businesses, and residential renovations or new construction. Projects must be consistent with local zoning and community objectives for area development.

Community Reinvestment Areas created after 1994 require an agreement between the local jurisdiction and the investor prior to any commercial/industrial project commencement.

Rate/Terms:

The value of the incentive is negotiated individually for commercial and industrial projects, up to 100 percent exemption of the improved real property tax valuation for up to 15 years depending on the project. In some instances, local school board approval may be required.

1.

Serves as an approving Authority for the issuance of development (conduit) bonds.

2.

Represents jurisdictions in an agency role regarding the sale of publicly owned property.

3.

Develops and oversees an RFP process for the redevelopment of surplus public properties.

Apply To:

To benefit from a CRA, apply to the individual municipality or HCDC (for unincorporated areas). Investors meeting the local criteria must apply to the municipality or HCDC for the real property tax exemption.

Contact Harry Blanton at hblanton@alloydev.org or at  513-458-2230

or state contact: Ohio Development Services Agency at 614-466-4551 or 800-848-1300

Additional Business Assistance Services

Enterprise Zones

Enterprise Zones are an economic development tool administered by municipal and county governments that provides real and personal property tax exemptions to businesses making investments in Ohio.
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Opportunity Zones

Opportunity Zones are a new economic development tool that allows individuals and corporations with capital gains tax liability to place those gains in a qualified Opportunity Fund in exchange for tax deferral, tax reduction, and permanent exclusion benefits.
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Tax Incentives and Taxes

There are tax incentives and benefits to locating your business in Hamilton County.
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Connect with one of our Economic Development specialists today

We are here to support and advise, give our team a call at 513-631-8292 or fill out our form.

“Alloy was able to take our strategic concept and support our efforts to bring it to life through tactical execution, from working with vendors and business owners to coordinating key partner meetings. Their involvement was a key to our success!”
Beth Robison
President & CEO of the Uptown Consortium, Inc., and Alloy Board Member