CRA Tax Abatement Program
The City of Trotwood has amended its Community Reinvestment Area (CRA) Tax Abatement program to ensure that residents directly impacted by the Memorial Day Tornado can utilize this tool to provide relief in their rebuilding/repair effort of their homes. Below is more information on the program:
The CRA Tax Abatement program applies the abatement only to the added property value that is created through repairs or rebuilding. The baseline property tax will be due, but any improved value will receive the benefit of the abatement under the terms defined below.
This program is available throughout the entire City of Trotwood
The CRA Tax Abatement program applies the abatement only to the added property value that is created through repairs or rebuilding. The baseline property tax will be due, but any improved value will receive the benefit of the abatement under the terms defined below.
This program is available throughout the entire City of Trotwood
Abatement Terms
For "Residential Projects" the City of Trotwood is offering the following abatement terms:
- 1st Year: 100% abatement on added value
- 2nd Year: 75% abatement on added value
- 3rd Year: 50% abatement on added value
- 4th Year: 50% abatement on added value
How to Apply
In order to apply for this program, the renovation/rebuild work must first be completed. Applications are filed after the work has been performed and is fully completed. Applicants have 1 year to file an application from the time that their renovation project is completed. Below are a few key points:
- Keep receipts from the improvements that are completed
- Pull required permits as required by local/county building codes
- Complete and Submit the application upon completion of renovation work
The Process
- Step 1: The owner/developer must pull a building permit with the Montgomery County Building Department.
- Step 2: Undertake construction or remodeling.
- Step 3: Upon completion of work, obtain the appropriate Certificate of Occupancy or signed final inspections from the Montgomery County Building Department.
- Step 4: Complete the City of Trotwood Community Reinvestment Area Residential Tax Abatement Application and submit to:
Trotwood Community Improvement Corporation
3035 Olive Road, Trotwood Ohio 45426 - Step 5: Trotwood Community Improvement Corporation then reviews the applications for completeness. If the application and supporting documentation meet the requirements, the application will be processed for tax abatement. The application will be forwarded to the Montgomery County Auditor’s Office.
- Step 6: The Montgomery County Auditor will conduct a field inspection and verify new construction/rehabilitation. Value (if appropriate) will be added to the property. Tax adjustments will be made accordingly.
What Repairs/Renovations Add Taxable ValueGeneral maintenance of properties does not add property tax value, therefore it is important to review what types of renovations/repairs are eligible for abatement. Any repairs/projects must exceed $2,500 to be eligible. Below is a list of types of projects that are likely to add value:
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What DOES NOT Add Taxable ValueThere are certain types of "general maintenance" projects that do not add taxable value when completed, therefore they will not be eligible or provide any taxable value increase to apply an abatement to. Below is a list of examples:
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