CRA Tax Abatement Program
Community Reinvestment Area
The City of Deer Park has designated Deer Park as a Community Reinvestment Area (CRA).
A Community Reinvestment Area (CRA) provides tax abatement to promote new construction or rehabilitation of residential, commercial or industrial structures. The property owner can apply to possibly receive a tax abatement on the increase in property valuation resulting from the improvements. The objective of the City of Deer Park's CRA Program is to promote investment in new and existing properties in Deer Park.
For residential property, submit the CRA application AFTER work is completed; include all relevant / supporting documentation with front cover ledger and receipts in corresponding order attached. (Minimum investment is $2,500, term of approved tax abatement is 10 years for remodel improvements.) Submit at the city office. *Note: if property has a T.I.F. in place, then a full CRA abatement is not eligble at the same time.
Click on following link for the RESIDENTIAL CRA application form: Application Form
Note: for commercial properties, the project must be pre-approved by City Council before work begins, as well as other stipulations. Please contact the city manager to discuss a CRA option for commercial property.
Please be mindful of any separate building, zoning, electrical, and/or plumbing permits required.
Upon approval, a letter is sent to Hamilton County Auditor's office, with copy to applicant, of such approval and valuation. At that point, it is processed by the County Auditor's office.
Special note reference: the Townhomes of Wentworth: The property collectively known as the Townhomes of Wentworth is in a Tax Increment Financing (TIF) District. This district provides that service payments in lieu of taxes will be used to pay debt service to the City's TIF Revenue Bonds Series 2021 (the "TIF Bonds") under a Service Agreement. This Service Agreement was recorded on Sept 8, 2021, Document No 2021-0108103. Due to the Service Agreement and other provisions of Ohio law, a CRA that is put into place at Wentworth prior to the maturity date of the TIF Bonds, whether this year or in a subsequent year, will be subject to the service payments in lieu of the taxes thereby taking away a significant portion of any benefit of the CRA until the maturity date of the TIF Bonds or unless the TIF district otherwise ceases to exist. That is, the property exemption resulting from the CRA, whether a CRA is created this year or in a subsequent year, will not be realized to its fullest extent until the TIF Bonds have matured or unless the TIF district otherwise ceases to exist. The maturity date of the TIF Bonds is October 1, 2031.