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 or additions and interior renovations for up to 100% for up to 15 years on the improved value. Terms are negotiated in advance and depend upon the project’s total construction value and the amount of new payroll.

Industrial CRA agreements are negotiated using the following guidelines:

PROJECT INVESTMENT  % OF TAX EXEMPTION
 $ 100,000 - 249,999  10%
 $ 250,000 - 499,99920%
 $ 500,000 - 999,99930%
 $1,000,000 - 2,499,99940%
 $2,500,000 - 4,999,99950%
 $5,000,000 - 7,499,99960%
 $7,500,000 - 9,999,999  70%
 $10,000,000 - 12,499,99980%
 $12,500,000 - 14,999,99990%
 $15,000,000 +    100%

NUMBER OF YEARS OF EXEMPTION

 NEW PAYROLL   NEW CONSTRUCTION OR ADDITIONSINTERIOR RENOVATIONS
$ 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

Downtown CRA agreements are negotiated using the following guidelines:

PROJECT INVESTMENT  
 % OF TAX EXEMPTION
$25,000 - 74,999
10%
$75,000 - 124,999
20%
$125,000 - 299,999
30%
$300,000 - 599,999
40%
$600,000 - 849,999
50%
$850,000 - 1,249,999
60%
$1,250,000 - 2,999,999
70%
$3,000,000 and more 80%

NUMBER OF YEARS OF EXEMPTION

NEW PAYROLL   
# YEARS NEW# YEARS REMODEL
$ 40,000 - 99,999
65
$ 100,000 - 199,999
76
$ 200,000 - 299,999
87
$ 300,000 - 399,999
98
$ 400,000 - 999,999
109
$ 1,000,000 - 1,499,9991110
$ 1,500,000 - 2,999,9991211
$3,000,000 and more 
1312


  1. Matthew P. Springer

    Director of Economic Development

  2. Economic Development

    Physical Address
    120 Maple Street
    Wadsworth, OH 44281