Community Reinvestment Tax Abatement
What Is A Community Reinvestment Area?
A CRA is a program authorized by the State of Ohio that allows a local government (like the City of North College Hill) to offer real property tax abatements to incentivize new construction, expansion and rehabilitation in areas where there is a demonstrated need for reinvestment.
How Can A Community Reinvestment Area Help Me?
If you are a business, homeowner or landlord who would like to build, expand or substantially rehabilitate a building, a CRA real property tax abatement can result in a significant annual savings to you over a period of 10-15 years. The tax savings keeps more money in your pocket that you can invest in your project.
If you are someone who does not have plans to improve your property, you will indirectly benefit from the CRA program because it will encourage improvement of other City of North College Hill property owners as well as business attraction and expansion, which can improve the value of your property as well as the overall community as a whole.
To Learn More Contact The City Of North College Hill at 513.521.7413 Ext 102 or Email Bknight@northcollegehill.org