Incentive

Tax Abatement

Summary

Qualifying businesses considering locate in Princeton have the opportunity to apply for a property tax abatement on new value created as a result of the project. 

Abatement terms are up to 10 years and the amount ranges up to 100% of real and personal property annually.

This program is available to projects that qualify for the City's standard  tax abatement and become LEED certified.  The incentive provides a 100% abatement on the incremental cost of incorporating LEED improvements.

Requirements:

  • Minimum Value Added to Tax Rolls: $4 million „ Percent of Abatement Guided by a Tiered Structure

  • Duration: Maximum of 10 years

  • LEED Abatements: Minimum of $100k in Value

  • Basic: 1% „ Gold: 5% Silver: 2.5% „ Platinum: 10%

Direct Incentives
Tax Increment Reinvestment Zones
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