Neighborhood Revitalization Common Questions and Answers Q. What criteria must the property
improvements meet?
Q. What type ofproperty is eligible? Neighb d
A. Among other things, property improve- O ~'*h O O
A. All types of residential property are ments must:
eligible except accessory structures such as Revitalization
storage buildings. Alltypes of commercial * Cost $10,000 and increase
and industrial property are eligible except assessed value by 10% for P~o~
public utilities and raikoads, residential property and cost
$20,000 and increase assessed
Q. What types of property improvements value by 20% for commercial
qualify? and industrial property.
A. Qualified improvements include new * Conform with appropriate City
construction as well as rehabilitation, alter- codes and regulations including
ations and additions, building permit requirements.
Q. How much does the tax rebate * Remain current on property taxes
amount to? and special assessments, including
B.I.D. assessments.
A. The rebate is based on a formula applied
to the added taxes paid resulting from the Q. How do I begin? You may be eligibl
increased assessed value of the property
due to the improvement. The taxes due on A. File an application within 60 days of the to receive a
the property prior to the improvement are issuance ofabuilding permit Applications roprtynr--e"'-'
Tax
Rebate
not eligible for the rebate program, may be obtained at the time of receiving a
building permit Oil the increase in taxes
Q How does the formula work?
and
on
new
p
A. The formula sets thepercent of the For more information contact:~ im_roved
increase in taxes that are rebated and the ' pro p erfies
number of years that it continues. The Planning and Development
rebate ranges from 50 to 100% for the first 300 W. Ash, Room 205
five years and 25 to 50% for the next five Saline, Kansas 67401
years, depending upon the improvement. Phone (785) 826-7260
Neighborhood
Revitalization Program
The City of Saline, under the Neigh- s
borhood Revitalization Program,
provides property owners the opporm- ~ -- SPECIAL
nity to.receive a tax rebate on addi-
DISTRICT
tional taxes levied as a result ofprop- ~
erty improvements within the desig- ~
nated area.
The purpose ofthe tax rebate is to --~a~~ ~~~~ I
encourage both new construction and
rehabilitation of existing buildings.
This incentive may make certain ~~~
projects financially feasible, thus
bringing investments to the revitaliza-
tion area that otherwise might not
o ur.
Projects begun on or after April 1, []
1998, the effective date for renewal of
the program, are eligible to apply for [~~[]~~
the rebate. The program is scheduled
to extend through March 31, 2003.
Applications must be filed within this
five year period. Ifapproved, the sr^~ sram
rebate extends for 10 years.
< Residential property is eligible
In order to be eligible, the property '~ throughout the area. Commercial
must be located within the area and industrial property is eligible
shown on the above map. SOUT. StReET only in the Special Core District.