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1500 East Main St
Suite 400
Richmond, VA 23219

 

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Commercial Real Estate Tax Abatement Program Contact

For more information, or to apply for the Commercial Real Estate Tax Abatement Program, contact:

 

Carla Childs, Management Analyst, Senior

(804) 646-7438

carla.childs@rva.gov

Commercial Real Estate Tax Abatement Program 

To view Ordinance 2022-238, which concerns application for partial exemption of rehabilitated commercial or industrial structures, or other improvements, and 26-605, concerning the amount of exemption for rehabilitated commercial or industrial qualified structures, for the purpose of clarifying that residential property is not eligible for the partial real estate tax exemption for rehabilitated commercial or industrial structures and to increase the time period to qualify for the partial real estate tax exemption from two to three years, click here

Program Details

Inside the Enterprise Zone 
Ten (10) year Program: First seven (7) years at 100% then decreases to 75% in year eight (8), 50 % in year nine (9) and 25% in year ten (10).

Outside the Enterprise Zone
Seven (7) year Program: First five (5) years at 100%, then decreases to 66% in year six (6) and 33 % in year seven(7).

 

 Qualifications

  • The structure must be at least 20 years old
  • You must increase the Improvement Value by at least 40%
  • You must have an active permit on file with Planning and Development Review (room 511 of City Hall)
  • Must meet Zoning Requirements
  • Applications in Historic Zones will be forwarded to the Architectural Review Board for review

 Applications

  • Download the application here. Application is a fillable form and can be filled out online.
  • Applications should be mailed/emailed to the DED's office with a $250.00 check or money order and a copy of the building permit
  • Must inform DED's office, in writing, when work is complete
  • Once qualified, the credit begins January 1 following the receipt of the Final Value Request
  • Applications expire 36 months from the date of application

To learn more, review the flyer:

Click to enlarge or download. 

Tax Abatement flier with program details