Thursday, February 18, 2010

CRA News

FYI, Part 3.

I've blogged about this before, but most people still don't know about the CRA program that provides property tax abatements in most of Dayton's historic districts, including St. Anne's Hill. Recently, a new
Community Reinvestment Area (CRA) was created for our neighbors in the Twin Towers neighborhood.

Here are some excerpts from the article about it in the Dayton Daily News...

The designation means that property owners who spend at least $5,000 on their single-family home or two-unit apartment could be eligible for a 100 percent property tax exemption for 10-years on the increased value resulting from the improvements....

The push for the designation comes from East End Community Services Corporation, the Oberer Development Company and St. Mary’s Development Corp., partners in Twin Towers Crossing, a 40-unit housing development....

About 25 of the homes valued at $200,000 are under roof with drywall going up.

Anyone making substantial renovations (improvements) to a property in St. Anne's Hill can also qualify for the tax abatement. For more information, contact the City of Dayton Department of Planning & Community Development at 333-3670.


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