Real Estate Tax Abatement
Tax abatement for real estate development in the City of St. Louis.
Real Estate Tax Abatement is a development tool designed to assist developers, businesses, and individuals with renovation and new construction projects.
Tax Abatement freezes the tax assessment in improvements to property at the pre-development level.
To be eligible for tax abatement, a significant investment must be made in the property; generally either new construction on vacant land or gut rehabilitation of an existing building.
Application must be made before construction begins.
The usual term for tax abatement is 5 to 10 years.
It is imperative that a company or individual seeking tax abatement obtain the support of the Alderman of the Ward in which the development is proposed.
Commercial Development Specialist III
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