LEED Community Reinvestment Area
The City of Cincinnati offers a property tax abatement for projects achieving a minimum Leadership in Energy and Environmental Design (LEED) Silver certification through the US Green Building Council. The abatement is offered for new construction or renovation of commercial or multi-unit (4 or more units) residential space.
How does a LEED CRA work?
Suppose an investor enters into an agreement with the City to invest $4 million into building a new commercial property to LEED Silver certification standards. In this case, the abatement is for 75% of the new value for a 15-year term.
|Market value of new investment||$4 million|
|Assessed value of investment||$1,400,000|
|Commercial property tax rate||0.086338791|
|Property tax on new investment||$120,874|
The maximum abatement, net of a payment to the school district, is 75% of the new taxable value. The maximum term on a renovation project is 12 years; for new construction it is 15 years.
- Projects that result in at least $40,000 in investment.
- Projects that result in net, new job creation.
- Project must receive certification from the US Green Building Council as meeting either Silver, Gold, or Platinum LEED Standards.
- The project cannot begin prior to the execution of the CRA agreement.
The State of Ohio charges a $750 application fee and an annual fee of one percent of the value of the abatement (minimum $500/maximum $2,500).
How do I learn more?
Contact the Economic Development Division at (513) 352-2499 or email@example.com
CRA Annual Reporting Forms
Tax Abatement Application
Initial Application for Commercial Tax Exemption
This application is to be completed by any company interested in a commercial tax abatement through the City of Cincinnati. Your application must be approved by the city and an agreement excuted by the company and the city prior to beginning construction.
Subsequent Application upon Project Completion
This form is required to be submitted upon project completion. The tax abatement will take effect after review and processing of this application.
CRA Annual Reports
Annual Status Report
This form is required to be submitted each year by existing tax abatement recipients. It must be submitted by March 5th of each year during the tax abatement period.