Community Reinvestment Area Program
Newburgh Heights has designated all property within the Village as a Community Reinvestment Area. Under this program, residential, commercial and/or industrial properties consistent with zoning regulations may qualify for a reduced property tax rate.
The Community Reinvestment Area is a project to support maintenance of existing housing and structures, and new construction.
Public support of selected Community Reinvestment Area projects will take the form of partial tax exemption on the increase in assessed valuation which results from improvements. The percentage and term of exemptions shall be negotiated on a case-by-case basis in advance of construction or remodeling, according to the rules outlined in the ORC Section 3765.67:
|5 years||Remodelling with cost ≥ $2500||33%|
|10 years||Remodelling with cost ≥ $5000||67%|
|15 years||Remodelling with cost ≥ $15000||100%|
|15 years||Construction with 2-25 units||100% (void if sold)|
|15 years||Construction of single-family dwelling||100% (void if sold)|
For more information contact the Housing Officer: