Tax Phase In
The tax phase-in program is a local incentive used to help attract businesses to the community and also help businesses currently located in the City of Evansville and Vanderburgh County expand operations. The incentive program focuses on businesses that are creating quality jobs for residents in addition to investing significant funds in real estate projects and personal property.
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Instructions
1. There are two types of applications available for tax Phase-In. They are:
a. Tax Phase-In for Real Estate Improvements and/or New Manufacturing Equipment\ Research & Development Equipment. You must submit a completed Application for Economic Revitalization Area Designation and Phase-In of Property Tax on Real Estate and New Manufacturing Equipment/Research and Development Equipment.
b. Tax Phase-In for a Residentially Distressed Area or Residential Economic Revitalization Area. You must submit a completed Application for Economic Revitalization Area Designation and Phase-In of Property Tax on Real Estate Improvements. This is for tax Phase-In on residential projects.
2. You must complete and sign the Statement of Benefits form (State Form 27167) and submit it with the Application.
3. For Real Estate Improvements, you must apply before you obtain a building permit. For new manufacturing equipment and research & development equipment, you should apply at least 60 days prior to the anticipated installation date. Note: Equipment installed prior to completion of the designation process (i.e. adoption of the Confirming Resolution) will not be approved for deduction by the State Board of Tax Commissioners.
4. For real estate improvements, you must submit a Site Plan of the proposed project.
5. You must submit a check for the application fee, the check should be made payable to GAGE.
6. Enclosed with the application is Tax Phase-In Application Scoring. This form is filled out by GAGE staff and is used as a recommendation tool by the City Council.
Process
1. The Growth Alliance for Greater Evansville (GAGE) will review the Tax Phase-In Application for completeness and may request additional information.
2. GAGE will make an assessment, based on the application scoring process, concerning the application and prepare a Preliminary Resolution for introduction to the City Council.
3. The City Council Finance Committee will hold a hearing on the application and make its recommendation to the full City Council. A representative of the applicant should plan on attending both the Finance Committee and City Council meeting at which final action will be taken on the Preliminary Resolution. The City Council meets on Monday at 5:30 p.m. The Finance Committee generally meets at 5:00 p.m. immediately prior to the Council meeting. The City Council meets in room 301 of the Civic Center Complex, 1 N.W. Martin Luther King, Jr. Blvd., Evansville, Indiana. GAGE will notify you of the time and date of Council meetings that you will need to attend.
4. If the Council adopts the Preliminary Resolution, GAGE will prepare a Confirming Resolution for introduction to the Council and legal notice advertising a public hearing before the Council. At the time of the public hearing, the Council should take final action on the Tax Phase-In application and either confirm, modify and confirm, or rescind the Preliminary Resolution by adopting the Confirming Resolution. A representative of the applicant should plan on attending this public hearing. GAGE will notify you of the time and date of this hearing.
Any questions concerning the Tax Phase-In Application process should be directed to Pam Martin at (812) 401-GAGE.
City
Application for Economic Revitalization Area Designation and Phase-In of Property Tax on Real Estate Improvements and New manufacturing or Research & Development Equipment
Application for Economic Revitalization Area Designation and Phase-In of Property Tax on Real Estate Improvements
County
County Application
County Application Residential
Department of Local Government Finance Forms
STATEMENT OF BENEFITS FORM
State Form 27167
STATEMENT OF BENEFITS FORM - Personal Property
State Form 51764
STATEMENT OF BENEFITS FORM - Real Estate Improvements
State Form 51767
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