Industrial and High Tech Tax Abatements
Public Act 198 allows local communities to offer tax incentives to manufacturers and high-tech firms for research and development centers. Available to eligible business for renovating or expanding existing manufacturing plants or for building new ones, these abatements can reduce property taxes -- real and personal for up to 12 years.
Click here to read more about PA 198 (PDF) Click here to download the PA 198 Application Packet (PDF)
Obsolete Property Tax Abatement
Property owners may qualify for a partial property tax abatement on the value of improvements made to certain types of commercial and residential properties. Investment in the property must be equal to $30 per square foot at a minimum, and the property must be qualified as obsolete. The City Commission determines abatement duration, which can last from one to 12 years, depending on the investment amount, number of jobs created, and other requirements.
Click here to read more about PA 146 (PDF) Personal Property Tax Abatements
The City of Grand Rapids can abate all new personal property taxes on new businesses that create at least 25 jobs for up to 12 years. Eligible businesses include manufacturing, mining, research and development, wholesale and trade, and office operations. The City Commission determines abatement duration.
Click here to read more about PA 328 (PDF)
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