Ohio Community Reinvestment Area
The Ohio Community Reinvestment Area program is an economic development tool administered by municipal and county government that provides real property tax exemptions for property owners who renovate existing or construct new buildings. Community Reinvestment Areas are areas of land in which property owners can receive tax incentives for investing in real property improvements. The program is delineated into two distinct categories, those created prior to July 1994 ("pre-1994") and those created after the law changes went into effect after July 1994.
Senate Bill (SB) 33 was signed by Governor DeWine on January 3, 2023, with an effective date of April 4, 2023. SB 33 included permanent changes to the Ohio Community Reinvestment Area (CRA) program, which can be found here.
The Community Reinvestment Area (CRA) Program is a direct incentive tax exemption program benefiting property owners who renovate existing or construct new buildings. This program permits municipalities or counties to designate areas where investment has been discouraged as a CRA to encourage revitalization of the existing housing stock and the development of new structures.
For more information, please visit: CRA Information
