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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateMichigan
Effected JurisdictionCity of Grand Rapids
Jurisdiction type: Municipality
Fiscal year ending In2022
Program nameObsolete Property Rehabilitation Exemption
Program purpose: Construction/rehabilitation
Statutory authority: Public Act 146 of 2000, as amended, MCL 125.2781 et seq. and City Commission Policy 900-42
Abating jurisdiction(s): Grand Rapids
Applicable taxesReal Property Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: The applicant and the City enter into a Memorandum of Agreement, by which the applicant agrees to pay (for distribution to the various tax collecting authorities) an amount equal to the amount of the taxes abated if it does not meet the job creation or private investment estimates contained in its application.
Gross revenue loss: $146,643
Reimbursement / offset: $0
Net revenue loss: $146,643
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.grandrapidsmi.gov/Government/Departments/Office-of-the-City-...