If you are the owner of a commercial housing property looking to perform new construction worth at least $1,000,000, then you could qualify for a CRA tax abatement. Qualifying locations must demolish existing structures and replace them with more than 4 dwelling units. Abatements are worth of 100% of the property taxes on the added value for a period of 15 years. Commercial housing CRA abatements also require approval of the affect School Board.
Entities wishing to apply for commercial housing CRA tax incentives must complete the Commercial Housing CRA Application and submit the completed application to the Department of Administration. The application can be filled out online or printed and delivered to:
City of North Canton Director of Administration 145 N Main St. North Canton, OH 44720