ValueUp to 10-year (5-yr contract + 5-yr renewal) freeze of ad valorem property taxes at pre-improvement assessed value for expansion/restoration/improvement of existing structures in qualifying districts
DeadlinesApply via FastLane NextGen before or during construction; local governing authority and Board of Commerce and Industry approvals required
RequirementsExisting structure in an economic development district, downtown development district, historic district, or opportunity zone; improvements to the structure itself (business machinery & equipment excluded); no property taxes already paid on the improvements
Caveatsdoes not cover acquisition cost or process equipment (ITEP covers manufacturing M&E instead); renewal needs local + state + governor approval
Last verified2026-08-23