Last DSIRE Review: 09/28/2009
Program Overview:
| State: |
Ohio |
| Incentive Type: |
Property Tax Incentive |
| Eligible Efficiency Technologies: |
Comprehensive Measures/Whole Building |
| Eligible Renewable/Other Technologies: |
Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Daylighting |
| Applicable Sectors: |
Commercial, Industrial, Residential, Multi-Family Residential |
| Amount: | 100% tax abatement for 10 to 15 years.
| | Maximum Incentive: | $500,000 maximum improved market value for residential buildings except no limitation with LEED Platinum certification
| | Eligible System Size: |
| | Equipment Requirements: | Buildings must achieve LEED certification |
| Web Site: |
http://www.cincinnati-oh.gov/cdap/pages/-3481-/
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Date Effective: 10/23/2007 (amended December 2007) |
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Summary:
The city of Cincinnati offers property tax abatements for residential and commercial buildings constructed or renovated to meet LEED* certification standards. The original green building tax abatement ordinance was passed in 2006 and has been amended three times since, culminating in the current abatement rules clarifications passed December 12, 2007. The incentive is available for any building within city limits and does not require a demonstration of financial need. The residential designation applies to structures with up to three units, including condominiums, while residential structures with four or more units are classified as commercial buildings. Industrial structures are also eligible to receive incentives under the commercial program. An agreement must be executed with the Department of Community Development before construction begins. The tax abatement rules are as follows:
Residential Buildings- 100% property tax abatement for 15 years (new construction) or 10 years (existing building retrofits)
- Maximum improved value of $500,000, except if structure achieves LEED Platinum certification, in which case there is no value limitation.
- Market improved value limit will increase by 3% each year beginning in 2009
Commercial and Industrial- 100% tax abatement for 15 years (new construction) or 12 years (existing building renovations)
- No cap on the value of improvements
- Requires an agreement signed prior to the start of construction that must be approved by the City Council
- Owner must enter into an agreement with the local Board of Education district to pay the board an amount equal to 25% of the avoided property taxes.
- Application fee of $750 to the State of Ohio, plus an annual fee amounting to 1% of the value of the tax abatement with a minimum of $250 and a maximum of $2,500.
The city of Cincinnati is also considering a requirement that new municipal buildings achieve LEED certification, that public building renovations follow LEED guidelines, and has also approved the creation of a fund to provide financing for green building projects in low-income and mixed income areas within the Community Development Block Grant (CDBG) program. For further information on the CDBG program, interested parties should contact the Cincinnati Department of Community Development.
*Click here for more information on the United States Green Building Council’s Leadership in Energy and Environmental Design (LEED) Green Building Rating System. |
