Tax Abatement Program for Rehabilitated Real Estate
The Alleghany County Board of Supervisors adopted an ordinance effective January 1, 2015 to offer a partial exemption of real estate taxes for rehabilitated or renovated real estate.
The exemption applies to commercial or residential properties that are at least 40 years old.
The renovation or rehabilitation must result in at least a 10% increase in the assessed value, while not increasing the size of the structure by more than 15%.
For more information, contact the office of the Commissioner of the Revenue.