Neighborhood Revitalization Plan
Category: State and Local Incentives, Tax Credits and Financing
Neighborhood Revitalization Plan (NRP) Tax Rebate Program
- The Neighborhood Revitalization Plan (NRP) Tax Rebate Program is a property tax rebate available for properties south of 11th Avenue in the Hutchinson city limits.
- Offers property owners a rebate of the increase in property taxes that can result from making improvements to a property.
- On residential properties, the improvements must be valued at $7,000 or more and must increase the assessed value by at least 5%.
- On commercial and industrial properties, the improvements must be valued at $20,000 or more and must increase the assessed value by at least 15%.
- Other eligibility criteria are noted in the adopted program requirements.
- Enhanced benefits are available for downtown projects and historically designated properties.
- Before commencing work and before obtaining a building permit, the property owner must arrange a pre-project appraisal of their property by the Reno County Appraiser's Office.
- NRP applications must be submitted to the Hutchinson Planning and Development Department at the time of building permit application filing.
- Once the project is completed, the County Appraiser will perform a new assessment of the property.
- The owner pays their property taxes as usual, and if the assessed value of their property increases by the minimum required percentage, the Reno County Treasurer will send a tax rebate check to the owner.
- Rebates to the owner continue each year for 10 years on a sliding scale.