The Restoration Tax Abatement(RTA) program is an economic development incentive created for use by municipalities and local governments to encourage expansion, restoration, improvement and development of existing commercial structures and owner occupied residences in Downtown Development Districts, Economic Development Districts or Historic Districts. The RTA program does not exempt the acquisition cost of the structure and only equipment which becomes an integral part of the structure can qualify for the exemption.
The RTA program allows for a five year deferral of the ad valorem taxes normally levied on renovations and improvements. The contract may be renewed for an additional five years if granted by the local governing authority. Commercial property owners and homeowners who expand, restore, improve or develop an existing structure in a qualifying district, after completion of the work, shall pay ad valorem taxes based on the assessed value of the property prior to the commencement of the improvements.
Exemptions 
