INDUSTRIAL COMMERCIAL ABATEMENT PROGRAM (ICAP)

The Industrial Commercial Abatement Program (ICAP) provides abatements for property taxes for periods of up to twenty-five (25) years.

 

To be eligible, industrial and commercial buildings must be built, modernized, expanded, or otherwise physically improved.

 

Preliminary ICAP applications will be accepted until March 1, 2022. The Final Application must be filed within one (1) year from the building permit issuance date, or if no permit is required, within one year from the start date of construction. If you file the Final Application later than one year after the building permit was issued or construction started you will automatically be denied.

 

Throughout the years in assisting our clients in preparing the condominium offering plans, we have also assisted our client in ICAP application to help our clients gain more benefits in their investment.