Residential Improvement Zone
YOU MAY BE ABLE TO REDUCE YOUR PROPERTY TAXES
CLICK HERE for a MAP of Eligible Communities
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CLICK HERE for a list of Eligible Neighborhoods
CLICK HERE for a list of "sample" improvements and savings
In each Residential Investment Zone (RIZe), the City of Fort Wayne offers Tax Abatement to property owners in order to encourage them to improve their homes and neighborhoods. This program allows a property owner to pay taxes on the true tax value that exists prior to the investment for a period of five years following the investment. For example, if the true tax value of your property is $60,000 before you invest in improvements and the improvements increase the true tax value to $70,000, you are allowed to pay taxes on the original $60,000 for five years after the true tax value is increased. Following this five-year abatement period, your true tax value will reflect all of the improvements on your property.
A property is eligible for the RIZe tax abatement If:
1. It is a residential property located within a Residential Investment Zone as designated by City Council and illustrated on a map available in the City's Land Use Planning office or by CLICKING HERE (MAP); and
2. The improvements increase the true tax value as determined by the County or Township Assessor's Office; and
3. The improvements meet all applicable building codes and zoning requirements and all necessary permits have been obtained; and
4. The property is not located within the 100-year flood plain as illustrated on maps available in the Land Use Planning office.
The following improvements typically increase true tax value:
1. Room additions that add square footage to an existing structure; or
2. Expanding or replacing a garage; or
3. Converting unfinished space to living space (attic, basement, garage); or
4. Additional bathrooms or plumbing fixtures; or
5. Air conditioning; or
6. A new deck or patio
According to the Allen County Assessor's office, the following improvements will not increase true tax value:
1. A new or repaired roof
2. New paint
3. New windows or storm windows
4. A new fence
5. Interior remodeling that does not add living space
6. Gutter repair or replacement
The property owner must apply for property tax abatement with the Allen County Auditor's Office, which is located on the first floor of the City-County building at 1 E. Main St. Fort Wayne, IN. The Auditor will review the application and will abate qualified increases in true tax value for five years. A complete application includes a “notice of reassessment” which is sent to property owners by March 1st of the year that the first taxes on the improvement are due. For example, if an addition is completed by March 1st of 2007, the notice will be sent out early in 2008. The property owner should apply for abatement within 30 days of receiving the notice of reassessment.
CLICK HERE for a MAP of Eligible Communities
(This map will take a LONG TIME to load! Be patient.)
You may need to download the FREE Adobe Acrobat Reader to view map.
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