More information on State of Ohio business development tax incentives can be found at the Ohio Department of Development’s website.
CRA Middlefield Village Pre 1994 Zone (Property Tax Abatement)
Middlefield Village Pre 1994 Zone
CRA Map
Pre-1994 CRA Application (Applications for this zone can be accepted after the start of the project however final application MUST be submitted at the completion of the project.)
Overview – Pre 1994 Zone
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.
For Whom
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. Tax Exemptions shall be granted only to commercial and/or industrial activities which result in the creation or maintenance of employment opportunities in the Village of Middlefield.
Benefits
The Village of Middlefield administers a pre-1994 CRA and can determine the type of development to be supported by the CRA Program by specifying the eligibility of residential, commercial and/or industrial projects.
Exemption Levels | Pre-July 1, 1994 CRA | Post-July 1, 1994 CRA |
Real Property | Must be 100% | Up to 100% |
Personal Property | None | None |
Inventory | None | None |
Exemption Time Period
For the construction of every dwelling, commercial or industrial structure: 5 years for improvements of $200,000 to $1,000,000; 10 years for improvements of greater than $1,000,000.
For the remodeling of every dwelling containing no more than two family units: 3 years for improvements of $5,000 to $20,000; 6 years for improvements greater than $20,000.
For the remodeling of commercial or industrial properties: 3 years for improvements of $10,000 to $100,000; 6 years for improvements of greater than $100,000.
CRA Tare Creek Parkway Zone (Property Tax Abatement)
Middlefield Village Tare Creek Parkway Community Reinvestment Area
Tare Creek Parkway CRA Zone Map
Tare Creek Parkway CRA Zone – Application (Applications for this zone MUST be approved PRIOR to the start of the project and approved by Council)
Job Creation Tax Credit
JOb-Creation-Retention-Tax-Credit-Application (1)
Overview
The purpose of the Job Creation Tax Credit (JCTC) is to encourage the development of jobs within the Village.
For Whom
New or Existing Businesses within the Village Limits, who plan to create 25 new full time jobs (or equivalent) within 36 months. Wages must be 1.75 time the minimum wage and business must commit to maintaining its operations for at least 1 additional year for every year the tax credit is received.
Existing Businesses in the Village must also commit to maintain its pre-application number of jobs and levels of payroll in the Village, and to maintain its operations in the Village at those levels for at least one additional year for each year the tax credit is given.
Benefits
Maximum credit will be calculated based off of 50% of the municipal income tax withheld on qualifying new jobs. Maximum of 40% if applicant is also receiving a real estate property tax abatement. Credit is good for a maximum of 5 years.
Job Creation Ordinance Information Link: Section 181.20 Job Creation Income Tax Credit Program
Job Retention Tax Credit
For Whom
A Business is eligible for the Program if it is located in the Village and has and will maintain a Retained Annual Payroll reported in the Village of not less than $1,800,000, provided, however that any Business engaged primarily in the retail sale of goods or services shall not be eligible unless authorized by Council.
The maximum grant shall be equal to an amount that is 40% of the required municipal tax withholdings on Retained Jobs if the participant also has a real estate property tax abatement on the facility where the Retained Jobs are located. Credit is good for a maximum of 10 years.