The Enterprise Zone (EZ) Municipal Tax Abatement Program was established by the City of Savannah in accordance with the State of Georgia Enterprise Zone Employment Act of 1997 to incentivize the revitalization of geographic areas experiencing high levels of disinvestment, underdevelopment, and economic decline.
Eligibility and Criteria
The program offers abatement of municipal ad valorem (property) taxes for a ten-year period on business, commercial, and residential properties located within the designated geographic area, when property owners successfully achieve and maintain one of the following criteria:
- Job Creation: A business or service enterprise within an EZ must create and maintain a minimum of five (5) new full-time equivalent jobs at the time of application to receive tax abatement. Additionally, the qualifying business or service enterprise must make improvements to the property.
- Land Improvement (Construction/Rehabilitation): A business, service enterprise, or other party must carry out new residential construction, residential rehabilitation, or other rehabilitation of an existing structure within an EZ such that the value of the improvement(s) exceeds the value of the land by a ratio of five-to-one by the Chatham County Tax Assessors valuation.
- EZ-Approved Residential Property (Home Ownership Purchase): To encourage home ownership in EZ areas, initial home buyers purchasing EZ-approved residential properties for primary residency, where the property developer has met the five-to-one increase in value of the property, shall be eligible to obtain tax abatement for this same property.
If you are interested in participating in the Enterprise Zone Program, please complete and submit the appropriate application form(s) below. For additional information about this program, please contact us at (912) 651-6973 or firstname.lastname@example.org.