Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are taxes reduced on the current value of the property (or on existing improvements)?

April 26, 2017existing improvements Property reduced taxes value

0

Posted

Are taxes reduced on the current value of the property (or on existing improvements)?

1 Answer

0

Posted

No. The abatement applies only to taxes on the increase in assessed value attributable to the new construction, renovation, or rehabilitation. Taxes based on the assessed value of land and existing improvements continue to be extended and collected.