Enterprise Zone Certification

As of the date of this application.

If a business expects to receive a property tax credit for the next taxable year beginning on July 1 when the tax bill is actually issued, then the Economic Development Corporation must receive and certify the eligibility of a business by no later than the end of the preceding calendar year on December 31.

The granting of an Enterprise Zone property tax credit is also affected by the timing of the completion of capital improvements and the assessment of these improvements. A property that is certified as qualified prior to December 31, but has not completed their improvements by the following July 1, will have the credit 10-year term applied to their account.

The lack of any increase in eligible assessment value or vacant status of the land until the project is completed and assessed will likely yield little or no credit for affected tax years. To be eligible a qualified property must be used in a trade or business.