By Lisa Eddingfield, AmyBSells Buyer Specialist Are you aware of the residential tax abatements in Cincinnati? By offering these tax abatements, the Cincinnati city government is encouraging neighborhood growth by offering a financial reward for building or remodeling within city limits. Especially if you're interested in new construction, these savings can be substantial. In addition, with new construction or improvements, the materials and products used are more energy efficient leading to additional cost savings for you. 
These abatements could mean major changes in property taxes for those who can take advantage (basically, a freeze on the rate) and last for a total of 10 years. It's important to remember that this abatement is transferable -- so if the previous owner qualified for the abatement then you will reap the same tax benefits until 10 years has been reached. Furthermore, if you qualify for the abatement and decide to sell your home then the transferability of the abatement will be an excellent selling point. The taxes will be based on the home's original value before renovation instead of the added value of the renovation, or a discounted value for new construction that qualifies. Here's some info regarding eligibility I found on the city's website:
"Real property must be within the City of Cincinnati. Any improvement for making a building more structurally sound, more habitable, or for improving the structure is eligible. Eligible uses include renovation or new construction of one, two, or three unit residences, or condominium conversions or rehabbed condominiums."
Keep in mind that not just any improvement will qualify for this abatement. These are for improvements that add to the value of the home, not just improve the condition. (Think deck or addition, not windows or roofing.) You'll have to apply for the abatements, and your construction will be assessed. To learn more about this abatement, including numbers, visit the city's website. Call me anytime if you want to learn more about buying a home in Cincinnati. -- Lisa is the Buyer Specialist for the AmyBSells Team. She has more than 20 years experience in sales and has been working with buyers for nearly a decade. Stay tuned for the blog for more helpful information from the newest addition to our team.
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