DOWNTOWN/WATERFRONT DEVELOPMENT DISTRICT INCENTIVES 2010 - 2015
Tax credits and exemptions from impact fees are in place for eligible owners of property which is located in a designated redevelopment zone, called the Downtown/Waterfront Development District.
Ordinance No. 1000
The City of Cambridge has instituted incentives for significant property improvements within the municipality's designated Downtown/Waterfront Development District.
The Tax Credit Program stipulates that any property owner, who completes the qualifying improvements within the stated time period, shall be entitled to a municipal real property tax credit over a four year period. The Impact Fee Abatement Program offers owners of property within this same area of the City a waiver. This program lasts for a period of five years,
For more information click below:
- Downtown/Waterfront Development District Incentives Brief
- Downtown/Waterfront Development Incentives Application
SENIOR TAX CREDIT 2010 - 2015
The City of Cambridge has instituted an incentive for 'seniors' moving into the city.
Qualifying seniors who purchase a residential unit within the City of Cambridge and who will reside in the said residence as his or her primary home shall receive a tax credit on their annual municipal real property tax bill for that residence. This credit is extended for three (3) consecutive years beginning with the tax/fiscal year immediately following the date of acquisition of the property, giventhe application is received by the May 1st deadline.
For more information click below:
For questions on any of the incentives above, call 410-221-6074.
