Brownfield Property Tax Capture Info
The Tax Capture Process:
On some Brownfield Project Plans, part of the property taxes generated for the site are captured by the Brownfield Authority and used to pay eligible project costs. The portion of taxes captured are only on the increased Taxable Value of the project site resulting from the project improvements.
The tax capture process allows financial resources for environmentally deficient, blighted or obsolete properties to again become useful and valuable assets for our environment and the community.