Revitalization Tax Credit

The Revitalization Tax Credit is a financial incentive offered to property owners or developers who invest in renovating or restoring underused or neglected properties within specific designated areas. The goal is to encourage urban renewal, preserve historic buildings, and boost local economies. Typically, the credit reduces the amount of property tax owed based on qualified renovation expenses, making it more affordable to improve aging or distressed properties. This program helps revitalize communities by incentivizing investments that enhance neighborhood safety, appearance, and economic vitality.