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February 22, 2024
Question

What is a renaissance zone? do I have to claim a renaissance zone?

  • February 22, 2024
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February 22, 2024

Several states and cities have Renaissance zones.  For example, the City of Detroit has some designated areas as Renaissance Zones. The city has a program that encourages development and economic stability in some areas.  To qualify an individual or business must be located in a designated area to qualify.  Some of the tax incentives include a waiver of city income and utility users' taxes, most city property taxes, county property taxes, and state income tax or single business tax.   To participate people have to apply with the city.  

 

For more information on this and other Renaissance zones see the following links:

 

Renaissance Zones | City of Detroit

North Dakota Renaissance Zone Program
 

[Edited 2/21/24 |6:52 PM PST ]