The Community Reinvestment Area (CRA) Tax Abatement Program offers real property tax abatement on the increase in assessed valuation of commercial and industrial property resulting from improvements. The program applies to new industrial and commercial construction including additions to existing buildings.
The City of Tallmadge New Jobs Program provides a monetary incentive in the form of an income tax rebate to businesses occupying new and/or existing industrial, commercial or retail buildings where such occupancy creates new jobs within the city.
As a member community of the Energy Special Improvement District, Tallmadge property owners can replace or improve existing roofs, windows, HVAC systems, and more. This financing program is for significant building upgrades resulting in better indoor air quality, improved tenant comfort and reduced energy costs for owners and their tenants. PACE allows the property owner to repay the energy efficiency improvements through a special assessment placed on the property.