About
Tax abatements are used to promote economic and community development. This credit eliminates or significantly reduces property taxes for owners buying commercial or retail property. It can be temporary, lasting from a few months to years, or even indefinitely.
Stakeholders
Community-based or nonprofit organizations
Real Estate Firm or Developer
Government or public agency
Strategies in Action
Commercial Property Rehabilitation Tax Abatement Program – City of Falls Church, VA
Under the Commercial Property Rehabilitation Tax Abatement Program, owners of properties that have existed in the city for at least 20 years and have invested in rehabilitating, expanding, or replacing their buildings for use as [...]
