Tax abatement is a reduction in the property taxes which would otherwise be payable on the actual value added to a property due to qualified improvement. The reduction only applies to the additional taxes resulting from the increase in assessed value of the property due to the improvement. Under urban revitalization the taxes relating to the assessed value of the property prior to the improvement cannot be reduced and will continue unabated.
How do I apply for tax abatement? Applications must be completed by the homeowner. Application forms (PDF) may be obtained here.