Businesses that do not have SIC codes required by the State's EZ
program—may still be eligible for Enterprise Zone incentives
under the City's program. Call us! If you are a restaurant,
retailer or other business that can't qualify for the State's EZ
program, and you move into a newly constructed space or
rehabilitated space… you may qualify for:
A 7 year real property tax break on any increase in real
property taxes that comes as a result of your space being
newly constructed or from being in a building rehabbed to fit your
needs. This benefit could result in lower occupancy costs, if you
lease. The breaks are:
| Year |
|
Increase in
Assessment that is Deferred |
| Year 1 |
|
100% |
| Year 2 |
|
100% |
| Year 3 |
|
50% |
| Year 4 |
|
40% |
| Year 5 |
|
30% |
| Year 6 |
|
20% |
| Year 7 |
|
10% |
A 3-year personal property tax abatement. Your
commercial business can receive this tax abatement when you move
into rehabbed or newly built space in the EZ and the building
qualifies for the incentive mentioned above.
| Year |
|
Increase in Assessment
that is Deferred |
| Year 1 |
|
100% of your personal property taxes abated |
| Year 2 |
|
100% |
| Year 3 |
|
50% |
For more information about the Meriden Enterprise Zone,
including a map of the included properties and application forms,
please contact Peggy Brennan at the Meriden Economic Development
office at 203-630-4151 or contact
via email.
|
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