Cincinnati Builder News & Property Updates
Living Green + Seeing Green - Cincinnati Tax Abatements for new custom homes
How the Cincinnati Community Reinvestment Area (CRA) and LEED Certification make it happen.
With so many great energy and consumption conservation products available in today’s Cincinnati home construction, everyone agrees that they are a permanent part of our ongoing sustainability initiatives. After all, who wouldn’t want the ability to conserve energy, reduce consumption, improve air quality and the numerous other benefits that building green can bring? I think it’s safe to say that we’ve turned the “Green” light on permanently for better conservation and the financial benefits it brings today’s home buyers.
Did you know that your green efforts in home construction can also gain you tax abatements within the City of Cincinnati? The tax savings can be substantial. The abatement is valid for single, two-family and multi-family dwellings over an extended period of years. New homes are taxed at pre-construction values. That can be a very substantial savings in today’s custom home market.
So why is the city so eager to give up a portion of its tax base? After all, most of the new green construction is happening on existing tax generating properties and the new taxes are collected at pre-construction values. The reason is reinvestment. As out of date, inefficient housing is torn down and replaced with new efficient structures, we are maintaining and growing our communities within city limits, improving longterm property values and nurturing sustainability - All good things!
So is it worth your while? Tax abatements can reach hundreds of thousands of dollars in their lifespan. Click here to see a chart that illustrates the different levels and abatements that are possible. Learn more about the Cincinnati Community Reinvestment Area (CRA) and LEED Certification through the links below. Then talk with Classic Living Homes. We will share our personal case studies with you of this program and its benefits to you, the home buyer. Plus, Classic Living Homes will organize everything from your new home’s EnergyStar compliance and LEED certification to Cincinnati Tax Abatement approval. Call 513-515-5123 today for more information.
LINKS TO LEARN MORE:
Cincinnati Community Reinvestment Area (CRA)
LEED, or Leadership in Energy & Environmental Design