WebChapter 353 tax abatement program provides that, once a property is transferred through a redevelopment corporation, the real property shall not be subject to assessment or … WebRedevelopment Corporations. 353.040, RSMo. Eligibility Criteria Tax abatement under the Urban Redevelopment Corporations Law is only extended to real property that has been found to be a “blighted area” by the city. For purpose of 353 tax abatement the term “blighted area” is defined as: That portion of the city within which the legislative
Tax Abatement Programs - St. Louis
WebThis incentive encourages redevelopment of blighted areas by offering 25 years of incremental real property tax abatement for “Urban Redevelopment Corporations.” During the first ten years, Chapter 353 allows for 100% of new property tax increases to be abated, and only 50% in the remaining 15 years. Land Clearance for Redevelopment Act (LCRA) Web“Chapter 353 Tax Abatement” is an incentive that can be utilized by cities to encourage the redevelopment of blighted areas by providing real property tax abatement and eminent domain. Authorization Chapter 353 of the Revised Statutes of Missouri (the “Urban Redevelopment Corporation Law”). tivi foundation
Local Incentives - St. Louis Economic Development Partnership
WebRedevelopment Corporations. 353.040, RSMo. Eligibility Criteria Tax abatement under the Urban Redevelopment Corporations Law is only extended to real property that has been … WebChapter 353. Real Property Tax Abatement under Missouri Statute Chapter 353 is a program which provides an incentive to encourage redevelopment of “blighted” areas. Real estate tax abatement can be granted for a period of up to 100% for ten years and up to 50% for an additional fifteen years by Missouri State Statute section 353.110. WebChapter 353 tax abatement is an incentive allowed by Missouri law to encourage the redevelopment of blighted areas through the abatement of real property taxes and, where appropriate, the use of eminent domain. To be eligible for tax abatement, either the City or a private entity must form an Industrial tivi hay.org