Community Reinvestment Area

Property Tax Abatements 

The City of Wadsworth created a Community Reinvestment Area (CRA) Tax Abatement zone in eight industrial areas and the downtown. The CRA program offers tax abatements on new construction and renovations for up to 100% for up to 15 years.  Terms are negotiated in advance and depend upon the project’s total capital investment and the amount of new payroll.

Industrial CRA agreements are negotiated using the following guidelines:

PROJECT INVESTMENT  % OF TAX EXEMPTION
 $ 100,000 - 249,000  10%
 $ 250,000 - 499,000          20%
 $ 500,000 - 999,000  30%
 $1,000,000 - 2,499,999  40%
 $2,500,000 - 4,999,000      50%
 $5,000,000 - 7,499,00060%
 $7,500,000 - 9,999,000  70%
 $10,000,000 - 12,499,000  80%
 $12,500,000 - 14,999,00090%
 $15,000,000 +    100%

NUMBER OF YEARS OF EXEMPTION

 NEW PAYROLL   NEW ADDITIONS
$ 40,000 - 99,99953
$ 100,000 - 199,99964
$ 200,000 - 299,99975
$ 300,000 - 399,99986
$ 400,000 - 749,99997
$ 750,000 - 1,249,999108
$1,250,000 - 2,499,999119
$2,500,000 +1210

Tax exemption agreements may also provide additional benefit to businesses based on the number of years the business is located in the City of Wadsworth per the following:

YEARS BUSINESS IN CITYADDITIONAL YEARS OF EXEMPTION
5 - 91
10 - 142
15 - 193
20+4

CRA Example:

A company investing $10 million in an expansion project involving both new construction and machinery & equipment, adding new payroll of $2 million, would qualify for an 80% exemption for 11 years.  If the company has been located in Wadsworth for 20+ years, the 80% exemption would extend for 15 years.

The tax abatement for the project is calculated on the Medina County Auditor’s valuation of the new or improved real property.  Calculations of estimated tax exemption benefits assume that the building is valued at the amount invested in construction.

Estimated Savings for 15-Year, 80% Abatement

Real Property InvestmentEstimated Total Property Tax Savings

$ 1 million

$263,389

$3 million

$790,167

$4 million

$1,053,556

$5 million

$1,316,945

$10 million

$2,633,890


Contact Us

  1. Jim Gray

    Director of Economic Development
    Email Jim Gray
    Phone: 330-335-2707

  2. Ayten Anderson

    Marketing Coordinator
    Email Ayten Anderson
    Phone: 330-335-2727

  3. Economic Development

    Physical Address
    120 Maple Street
    Wadsworth, OH 44281

    Phone: 330-335-2707

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