Community Reinvestment Area

The City of Wadsworth has a Community Reinvestment Area (CRA) that encompasses the industrial, commercial, and multi-zoned areas of the City.

Tax Exemption Guidelines

(as revised per Ordinance 00-90)

The amount of tax exemption established for each project is a function of the percent of exemption granted and the number of years the exemption is granted. This percent and term will be based on the amount invested in real and personal property and total payroll for the project.

Project Investment
Percentage of Tax Exemption
$100,000 - $249,999
10%
$250,000 - $499,999
20%
$500,000 - $999,999
30%
$1,000,000 - $2,499,999
40%
$2,500,000 - $4,999,999
50%
$5,000,000 - $7,499,999
60%
$7,500,000 - $9,999,999
70%
$10,000,000 - $12,499,999
80%
$12,500,000 - $14,999,999
90%
$15,000,000 and more
100%


New Payroll
Number of Years of Exemption - New
Number of Years of Exemption - Additions
$40,000 - $99,999
5
3
$100,000 - $199,999
6
4
$200,000 - $299,999
7
5
$300,000 - $399,999
8
6
$400,000 - $749,999
9
7
$750,000 - $1,249,999
10
8
$1,250,000 - $2,499,999
11
9
$2,500,000 and more
12
10

The City of Wadsworth City Council, in negotiations of 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 (maximum total for term for new construction is 12 years, 10 years for additions):

Years Business in City
Additional Years
5 - 9
1
10 - 14
2
15 - 19
3
20 and more
4

Note: A minimum of five full-time jobs must be created within the first 12 months of the agreement to be eligible to qualify for a CRA tax abatement.

Contact Harry Stark at 330-335-2707 for more information.