Neighborhood Enterprise Zone (NEZ) Tax Abatement

Homeowners in most of Detroit’s new development qualify for the Neighborhood Enterprise Zone (NEZ) property tax abatement. The State of Michigan established the NEZ program to encourage homeownership and redevelop urban communities.

As a homeowner of a new construction NEZ approved development, you will receive a significant reduction in property taxes for 15 years from the date of closing. In the event you sell your home within the 15 year period, the remaining years of NEZ property tax abatement will be transferred to the new owner.
For new construction developments, property taxes are based on 16.97 mills.Property tax comparison based on a purchase price of $199,000:
 
Detroit New Construction Developments(16.97 mills)                  $1,689/year

Royal Oak (35.2318 mills)                                                        $3,506/year

Birmingham (41.9710 mills)                                                      $4,176/year

For more information on which developments qualify for the the NEZ, contact Austin via email (austin@citylivingdetroit.com) or phone (313.550.2307).