Five Year Tax Abatement Calculator- (Beta version)

Market Value of Property Prior to Improvements- $

Value of Improvements- $ Must be greater than $5 million and less than $10 million

Mill Rate

Information Entered
Market Value of Property Prior to Improvements = $
Value of Improvements = $
Mill Rate =

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Without an abatement total taxes paid over the five years would be $0.00.

A five year abatement would result in a total tax bill of $0.00.

  1. Taxes paid in year one would be $0.00.
  2. Taxes paid in year two would be $0.00.
  3. Taxes paid in year three would be $0.00.
  4. Taxes paid in year four would be $0.00.
  5. Taxes paid in year five would be $0.00.

A five year abatement would reduce the taxes on the property by $0.00.

Year Full Tax Bill Abated Tax Bill Reduction
1 $0.00 $0.00 $0.00
2 $0.00 $0.00 $0.00
3 $0.00 $0.00 $0.00
4 $0.00 $0.00 $0.00
5 $0.00 $0.00 $0.00
Total $0.00 $0.00 $0.00

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LEED Tax Abatement

For properties that are improved to meet Leadership in Energy and Environmental Design (LEED), as certified under the US Green Building Council have the option of a 10% tax abatement.

A LEED Tax Abatement would result in an reduction of $0.00 per year for six years.

A LEED Tax Abatement would result in a total reduction over six years of $0.00.

Year Full Tax Bill LEED Abated Tax Bill Reduction
1 $0.00 $0.00 $0.00
2 $0.00 $0.00 $0.00
3 $0.00 $0.00 $0.00
4 $0.00 $0.00 $0.00
5 $0.00 $0.00 $0.00
Total $0.00 $0.00 $0.00

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The estimations in the calculator are based on the assumption that taxes will remain unchanged during the abatement period and the information entered for value of property and improvements is accurate.
An increase or reduction in the tax mill rate for future years would result in different results.
Any and all decisions to grant a tax abatement incentive, pursuant to the terms of Ordinance 272-9, shall be within the sole and absolute discretion of the Common Council of the City of Middletown.