Commercial Rehabilitation Property Tax Abatement (CRPTA)

CRPTA is a local incentive for the rehabilitation of commercial and industrial buildings in the City.

  • The incentive reduces the post-rehabilitation real estate tax for five (5) years.
    • The amount eligible for abatement is equal to 50% of the qualified rehabilitation costs.
    • The reduction begins upon the completion of the rehab or on January 1st of the year immediately following the rehab, whichever is most beneficial to the property owner.
  • Properties must be at least 20 years old, 15 if in an Enterprise Zone.
  • The rehabilitation may expand the building’s square footage by no more than 50%.
  • Qualifying rehabilitation* costs are the same as those for qualifying investments for the state’s Enterprise Zone Real Property Investment Grant (RPIG). See page 10 of RPIG Manual.
  • Qualified rehabilitation* costs must equal at least 20% of the assessed value of the building(s)/improvements prior to rehabilitation.
  • Owner and/or contractor must obtain all required building and related permits and inspections.
    • Permit values must equal at least 85% of the actual qualifying costs of expenses requiring permits.
  • Applications must be submitted within 18 months of the issuance of a Certificate of Occupancy (CO) or Final Inspections, whichever is applicable.
  • For an application, visit APPLY HERE.
For more information, contact Mallory Butler, Senior Economic Analyst, at (757) 298-6506 or by email.

*Rehabilitation may not include building, renovation, or repair done after damage by fire, hurricane, flood, or other natural disasters or acts of God.