Tax Abatements: Tax reductions for eligible facilities on all or a portion of the increased taxable value of real and/or business personal property over the base year value. Projects may be eligible for up to a 90% abatement on real or personal property, but not both unless negotiated, for a period of 10 years.
Projects seeking tax abatement may contact the City to determine eligibility. Following qualification, formal applications for abatement are processed through the City of Arlington's Office of Economic Development. Abatement terms are up to 10 years and the amount ranges up to 100% of real and personal property annually.
In order to encourage new green development, the City offers a LEED Tax Abatement incentive. This program is available to projects that qualify for the City's standard tax abatement and become LEED certified. The incentive provides a 100% abatement on the incremental cost of incorporating LEED improvements.
Requirements:
Minimum Value Added to Tax Rolls: $4 million Percent of Abatement Guided by a Tiered Structure
Duration: Maximum of 10 years
LEED Abatements: Minimum of $100k in Value
Basic: 1% Gold: 5% Silver: 2.5% Platinum: 10%
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