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Council approves three-year, graduated tax abatement for DMT Capital project downtown
Summary
Tipton Common Council approved Resolution 2025-10 declaring an economic revitalization area and granting a three-year graduated property tax abatement for DMT Capital LLC; the council attached deadlines for start and completion and kept the ERA designation at 10 years.
The Tipton Common Council voted to approve Resolution 2025-10, declaring an economic revitalization area (ERA) and authorizing a three-year, graduated property tax abatement for DMT Capital LLC on a downtown property. The resolution sets a three-year abatement of property taxes on qualifying improvements with a schedule of 100% in year one, 66% in year two and 33% in year three; the ERA designation is recorded as 10 years. Council members discussed timing conditions: work must begin no later than Labor Day…
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