Contact Us
Phone
Email
Address:
1500 East Main St
Suite 400
Richmond, VA 23219
LinkedIn:
Commercial Real Estate Tax Abatement Program Contact
For more information, or to apply for the Commercial Real Estate Tax Abatement Program, contact:
Carla Childs, Management Analyst, Senior
(804) 646-7438
Commercial Real Estate Tax Abatement Program
Program Details
- 10-year program
- First 7 years at 100%, then decreases by 25% each year after until it's gone
Qualifications
- Must be in an Enterprise Zone
- The structure must be at least 20 years old
- You must increase the Improvement Value by at least 40%
- You must have an active permit on file with Planning and Development Review (room 511 of City Hall)
- Additions/Replacement
- Structures cannot exceed the total square footage of the qualified structure by more than 100%
- Must meet Zoning Requirements
- Applications in Historic Zones will be forwarded to the Architectural Review Board for review
Applications
- Download the application here. Application is a fillable form and can be filled out online.
- Applications should be mailed/emailed to the DED's office with a $250.00 check or money order and a copy of the building permit
- Must inform DED's office, in writing, when work is complete
- Once qualified, the credit begins January 1 following the receipt of the Final Value Request
- Applications expire 24 months from the date of application
To learn more, review the flyer:
Click to enlarge or download.
