July 30, 2020

Within the Enterprise Zone, taxes on improvements to any property within the geography are deferred for a period of 7 years: 100% for the first two years, 50% for the third year, 40% for the 4th year, 30% for the 5th year, 20% for the 6th year, and 10% for the 7th year. After the 7 year term, taxes will be at the true rate. If used for housing development, units must be affordable to 200% of the area median income or abatement will be revoked.