Symmes Township Establishes a Community Reinvestment Area
In order to attract more business development Symmes Township has established two community reinvestment areas to attract new businesses and construction projects. The commercial/industrial CRA property tax abatement is up to 10 years for new construction or renovation, with up to a 50 % exemption and a minimum $5,000 in costs. The residential remodeling and new construction CRA property tax abatement has a term of 10 years, with 50% exemption, and a market value cap of $100,000 on the improvement value. There is a minimum of $2.500 in costs for single family residences and a minimum of $5,000 in costs for 2-4 unit structures.
The CRA should bring new businesses to the township which will add additional economic diversity to the area. At the moment there are three business taking advantage of the program: ‘All About Kids’, Grand Sands, and Cornell Crossing. Apply for the Symmes Township CRA by following the link and completing the application.
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