City of Suffolk Rehab Tax Abatement Program

How it works

The City of Suffolk provides a partial exemption from real estate taxes for qualifying rehabilitated real estate. If a property qualifies, the initial increase in assessed value caused by rehabilitation is excused for 10 years.

What the money covers

This is a property tax relief program, not a reimbursement or grant. The exemption applies to the increase in assessed value resulting from the rehabilitation.

Amounts and matching

• The exemption lasts for 10 years.
• Residential properties must be improved so the assessed value of the structure increases by no less than 40%.
• Commercial properties must be improved so the assessed value of the structure increases by no less than 60%.
• For qualifying properties, the exemption starts on January 1 of the year following completion of the rehabilitation.
• If the property qualifies, the owner receives a credit memorandum from the City Assessor during each of the 10 years of exemption.

How to apply

• File the application in duplicate with the Real Estate Assessor.
• Include the application fee of $20 if applicable.
• Make the check payable to Andrew Owen, Treasurer.
• Properties in the Urban Enterprise Zone are exempt from the application fee.
• After the application is received, the Assessor's Office inspects the property to determine a base value.
• The property is then inspected quarterly during rehabilitation until completion.
• After completion, the City determines the rehabilitated exemption value.

Timing and deadlines

• No general open or close date is stated on the page.
• The exemption begins January 1 of the year after rehabilitation is completed, if the work complies with City Code (Section 82.481–482).
• The exemption runs with the land once granted.