Middleport becomes Community Reinvestment Area
Jun. 7—MIDDLEPORT — Middleport Mayor Fred Hoffman recently announced the Ohio Department of Development has approved and certified the village's application to become a Community Reinvestment Area.
This process was started with the village council passing Ord. No. 143-22, after which Building Inspector Mike Hendrickson and Hoffman put together the information necessary for the certification.
"What this means is that anyone who builds a new home within the village can construct a new home for their own residence and pay no property tax on the new construction for a period of ten years," Hoffman said in a press release. "Also, if a person does substantial remodeling on their residential structure they do not have to pay real estate tax on the improvements for a period of 10 years."
Abatement of taxes on new commercial and industrial buildings and refurbishing of older buildings will be available on a case-by-case basis as recommended by the Middleport Tax Incentive Review Council, according to Hoffman. This is to be decided before any construction takes place. Depending on their decision, taxes can be abated for up to 100 percent for a period of up to 10 years.
This tax abatement program will take effect on June 15. Information and applications are available at the office of Mike Hendrickson in Middleport village hall.
