What is it? Property tax abatements are available for industrial, personal, and obsolete properties that will be used in manufacturing or development of communities in decline.

Who’s eligible? Manufacturing, industrial facilities and high-tech companies, and communities in need of economic development, and owners of obsolete properties.

How much is available? Property Tax Abatements allow companies to receive approximately 50% off their normal real and personal property tax payments. State legislation allows companies to receive up to 12 years of tax credits on bth real and personal property. Most placal municipalities have a scoring system to determine the number of eligible years.

What are the terms for agreement? For more information contact the Traverse Bay EDC.