This program provides real property tax exemptions in designated CRA districts for existing businesses planning to expand, and to new businesses looking to construct facilities in Willoughby.
- Five-year 100% exemptions are available for the increase in real property value for new residential, commercial or industrial construction.
- Eight-year 100% exemptions are available for the increase in real property value for expansions and/or remodeling of existing residential, commercial or industrial buildings.
To qualify for the Community Reinvestment Area Program, you must:
- Own property in a Community Reinvestment Area (reference CRA Map attached below).
- File an APPLICATION with the City of Willoughby before construction/improvements
- Attach a copy of the LEGAL DESCRIPTION of your property to your APPLICATION.
- All CRA tax exemptions must be APPROVED by the Department of Community Development.