The Village of Russells Point supports community growth, property investment, and redevelopment through tax abatement tools and incentives that may be available to developers and property owners. These incentives help lower the cost of construction, renovation, and redevelopment in targeted areas of the Village.

What Is a Tax Abatement?

A tax abatement is a temporary reduction or exemption from paying part of the increased property taxes that result when improvements are made to a property. This helps encourage investment by making development more financially feasible. Abatements are usually offered as part of a Community Reinvestment Area (CRA) or similar economic development program under Ohio law.

How It Works

Under Ohio Revised Code provisions, local legislative authorities can adopt a resolution designating a Community Reinvestment Area and establish eligibility for tax exemptions on new construction or remodeling. Property owners in that area may apply for an abatement on the increased assessed value of their property once improvements are completed.

Abatements apply only to the value added by improvements and not to the original land value. Depending on eligibility and local conditions, abatement periods may extend up to a set number of years as determined by local legislation and agreement.

Benefits of Tax Abatements

Tax abatements can:

• Make property development or rehabilitation more cost-effective
• Encourage investment in underutilized or blighted areas
• Stimulate economic development and job creation
• Support housing and commercial growth consistent with community goals

How to Learn More & Eligibility

Tax abatements are granted through Village Council action and must align with Ohio law and local policy.

Interested property owners and developers should:

• Contact the Village of Russells Point Planning & Zoning Department to inquire about current tax abatement programs or Community Reinvestment Areas
• Ask about eligibility, application procedures, and any requirements tied to specific development projects
• Consult the Logan County Auditor or relevant housing officer for property tax details and abatement status

Because tax abatements involve official agreements and timelines, early engagement with Village staff before starting a project is strongly encouraged.