Residential Tax Abatement Program

The Village of Russia Community Reinvestment Area (CRA) Tax Abatement Program provides a benefit for residents who construct new homes or substantially improve their existing homes within the Village of Russia.

Improvements made to an existing qualified residential property with a minimum improvement of $20,000 that results in an increased property valuation may qualify for a tax abatement. If the project qualifies, the owner of a property benefits because the remodeling or substantial improvement is not charged the extra property tax for a period of five years.

The Village also offers a tax abatement to new homes constructed within the Village of Russia with a cost of construction at least $180,000 and up to $500,000. For example, new construction of containing a one or two unit residential structure may be eligible for a 5-year abatement.

The Shelby County Auditor’s Office determines the abatement amount based on the type of improvements. You will receive a letter from the Auditor’s Office after the Auditor’s appraisal has been completed. The period for tax abatement begins with the date of documented completion of work.