2022 Silver Award Winner for IEDC Excellence in Economic Development Read More...

State Incentive

Chapter 403 Abatement

Summary

Starting January 1st, 2024, the Chapter 403 abatement permits companies to reduce the taxable value of their real property by 50% for school property tax purposes under their abatement agreement. However, if the project is situated in a designated opportunity zone, the tax reduction increases to 75%.