The City of South Bend offers a Tax Abatement Program designed to help new and expanding businesses improve real property or acquire new equipment. The program also provides tax abatement for the construction of new residences.
Tax abatement provides tax relief to the owner while supporting NEW development, which would not have occurred without public support. The increase in taxes, generated by the new investment, is phased in over a defined number of years.
Tax abatement petitions to the Common Council shall only be considered from owners of real property or new manufacturing equipment located within the City of South Bend who propose economic revitalization development.
For commercial real property tax abatement consideration, the Petitioner may qualify for three to ten years of abatement. Personal property tax abatements may be granted for five years. Single family residential abatements are for five years.
Companies or individuals applying for a building permit for the proposed project or installing new manufacturing equipment prior to approval of a Tax Abatement Petition are not eligible for Tax Abatement.
Tax Abatement Applications and Forms: