Real Estate Tax Abatement
Tax abatement for real estate development in the City of St. Louis.
Overview
-
Real Estate Tax Abatement is a development tool designed to assist developers, businesses, and individuals with renovation and new construction projects.
-
Tax Abatement freezes the tax assessment in improvements to property at the pre-development level.
-
To be eligible for tax abatement, a significant investment must be made in the property; generally either new construction on vacant land or gut rehabilitation of an existing building.
-
Application must be made before construction begins.
-
The usual term for tax abatement is 5 to 10 years.
-
It is imperative that a company or individual seeking tax abatement obtain the support of the Alderman of the Ward in which the development is proposed.
-
A "recommended Abatement Map for Residential Projects Under
$1 Million" was adopted by the Board of Aldermen through resolution 104 which was passed by the board on 10/29/2018.
In This Section
Contacts
Zachary Wilson
Project Manager - Development Incentives
(314) 657-3773
Email & full profile
2 comments from people like you have helped us improve this page. Keep the feedback coming!