Obsolete Property Rehabilitation Exemptions
The Obsolete Property Rehabilitation Exemption Act (OPRE), P.A. 146
of 2000, as amended, provides an incentive to encourage the
rehabilitation of obsolete and/or blighted commercial property.
Generally speaking, the real property value of a building will be
frozen at the pre-rehabilitation value for 1-12 years (the duration
is determined by the Mayor and Council), resulting in a tax saving
to the applicant.
For additional information regarding this program, you may
As of October 2007, the City had created eight OPRE districts and
granted six OPRE Certificates, resulting in the following: twelve
new businesses; the creation or retention of more than one hundred
jobs; the renovation of more than 95,000 square feet of commercial
space; and more than $7.1 million invested in property improvements.
For a table of the all districts established and certificates
issued, you may download the
OPRE Districts List.
Obsolete Property Rehabilitation Exemption Act
OPRE Application Procedures Checklist
OPRE Tax Calculator