Town Tax Incentives

Town of Hamden Tax Incentives

The Town of Hamden offers tax assessment deferrals to businesses throughout the Town that either newly construct or rehabilitate properties. Properties (not eligible for incentives under the State's Enterprise, Railroad Depot Zone or Urban Jobs Programs) may be eligible for a deferral of taxes based on assessment increases. Tax benefits may be offered for Real and/or Personal Property for up a seven-year period. The minimum investment by a business is $25,000 - $50,000.

EXAMPLE 1: REAL PROPERTY (Land, Buildings, Machinery and Equipment) Tax Deferrals in a Neighborhood Revitalization Zone (NRZ).

A business investing between $25,000 ($50,000 if not in NRZ) and $499,000 in real property improvements in a building located in a NRZ would be eligible for the following Real Property Tax Benefits:

For 3 years following completion of construction or rehabilitation work, a maximum of 50% (percent) per year of the increase in assessment of the real property attributable to such new construction or rehabilitation shall be deferred.

This benefit rises to 100% of the deferral for 2 years with an investment of between $500,000 to $2,999,999.

EXAMPLE 2: PERSONAL PROPERTY TAX INCENTIVE
A manufacturing business investing between $25,000 to $499,000 in rehabilitation or new construction work would receive a deferral in their increased assessment of personal property for a maximum of up to 3 years. This benefit rises up to a maximum of 70% for each of two years for investments of between $500,000 and $3,000,000.

For additional information, call Dale Kroop, Hamden's Economic & Community Development Director at (203) 287-7030 or email before initiating the eligible project. Applications may be completed online, printed and submitted by mail.