The City of Suffolk gives partial exemption from real estate taxes for qualifying rehabilitated real estate. For those properties that qualify, the initial increase in the real estate assessment caused by rehabilitation will be excused for 10 years. A summary of the requirements to qualify for this exemption is set forth below.

Residential

1. Building should be at least 25 years old
2. Building should be improved so as to increase assessed value of structure no less than 40%
3. Total square footage of structure shall not be increased by more than 15%.
4. No improvements made upon vacant land, nor total replacement of structure shall be eligible
5. No property shall be eligible unless appropriate building permits have been acquired, and application for such exemption has been made by filing the application for exemption with the City Real Estate Assessor

Commercial

1. Building should be at least 25 years old
2. Building should be improved so as to increase assessed value of structure no less than 60%
3. No improvements made on vacant land shall be eligible
4. No property shall be eligible unless appropriate building permits have been acquired, and application for such exemption has been made by filing the application for exemption with the City Real Estate Assessor

Application Information

File the application (PDF) in duplicate with the Real Estate Assessor, accompanied by a fee of $20 if applicable. Make check payable to Ronald H. Williams, Treasurer. Those properties located in the Urban Enterprise Zone are exempt from the application fee.

Upon receipt of the application, the property will be inspected by the Assessor's Office to determine a base value, and thereafter quarterly during rehabilitation, until completion; at which time a determination will be made on the rehabilitated exemption value. If proper rehabilitation has been made in compliance with the City Code (Section 82.481 - 482), the property exemption shall commence upon completion of the rehabilitation January 1st of the year following the completion of the rehabilitation.

Base Value

Base value is that value determined by the Assessor upon receipt of the application and after an interior inspection of the structure prior to commencement of rehabilitation.

Tax Relief

If the property ultimately qualifies for tax relief, the partial exemption shall run with the land. The owner, during each of the ten years of exemption, shall receive a credit memorandum for such exemption from the City Assessor.