Newport Comprehensive Land Use Plan - Existing Conditions | Page 53

4 Economic Development
Tax Stabilization
Through the Department of Civic Investment, the City of Newport provides a tax stabilization incentive for capital
improvements on historic properties in an effort to encourage the re-use of historic buildings. Through this incentive,
the city may provide a five year pro-rate tax exemption for the expansion, renovation, or development of old
commercial or industrial buildings if the improvements made increase the property value by a minimum of $100,000.

Draft Existing Conditions (March 2016)

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