The City of Toledo’s Residential Tax Abatement (RTA) Program is designed to spur housing development and rejuvenate existing housing stock within city limits.
Donor Name: City of Toledo
State: Ohio
City: Toledo
Type of Grant: Program
Deadline: All Time
Size of the Grant: $1000 to $10,000
Grant Duration: Grant Duration Not Mentioned
Details:
This program offers a 100% exemption on the increased property value resulting from new home construction or significant renovations. The abatement period extends up to 12 years for renovations and up to 15 years for new construction.
The RTA Program supports the development of new single-family homes, multi-family investor-owned properties, and the rehabilitation of existing single- and multi-family housing.
Funding Information
The minimum cost of improvements for rehabilitation is set at $2,500.
Eligible Improvements
Major improvements that MAY increase assessed value of residential property
- Build a new porch
- Remodel a basement/attic into living space
- New addition(s) to an existing structure
- Install a sunroom
- New construction
- Gut and renovate a home or apartment building
- Build or enlarge a garage
- Install indoor fireplace
- Install new additional bathroom.
Qualification Requirements
- The property must be located in the jurisdictional boundaries of the City of Toledo.
- Applicant must be the owner of the property for which they are applying for the exemption.
- Property taxes and assessments must be current.
- Properties must comply with zoning requirements, including overlay and historic district approvals.
- Projects must obtain the appropriate permits, inspections and occupancy approvals.
- Projects must have a minimum investment in renovation or construction of $2,500.
- Projects should submit an application prior to the commencement of construction.
- If your project involves the rehabilitation of a structure of historical or architectural significance, please contact the Department of Economic Development in advance of your submission to confirm the required documentation for your particular project.
Ineligible Improvements
Improvements that likely WILL NOT increase assessed value of residential property
- Exterior Residential Improvements:
- New roof installation
- Solar panels
- Aluminum siding installation
- Siding repair
- Storm window/door installation
- Adding windows/doors
- Repair/replace/add shutters
- Install awnings
- Add/replace gutters/downspouts
- Repoint, repair, replace masonry
- Add window boxes
- Repair/replace porches/steps
- Install outdoor lighting
- Install sprinkler system
- Plant lawns/shrubs/grass/plants
- Scrape/paint house
- Install/repair/replace sidewalks
- Interior Residential Improvements:
- Remodel kitchen
- Paint/wallpaper/redecorate
- Add closets
- Resurface floors
- Resurface ceilings/walls
- Repair plaster
- Install window blinds
- Add built-in bookcases
- Add built-in cabinets
- Replace furnace with same kind
- Replace hot water heater
- Replace oil or gas burner
- Replace plumbing
- Rewire completely
- Add electrical circuits/outlets
- Install/replace light fixtures.
For more information, visit City of Toledo.
