Property Tax Abatement Frequently Asked Questions

What is the purpose of the Martin County Housing Tax Abatement Policy?
To encourage decent, safe and sanitary housing for residents and job seekers in the County, and to alleviate a housing shortage.
What is the incentive to construct new owner occupied and rental residential housing units?
An applicant may be eligible to receive up to 100% of the County’s share of property taxes on the new construction value annually for 10 years. (For instance, County taxes on a $360,000 single family home in Fairmont are about $1,480/yr. X 10 years = $14,800)
What other taxing jurisdictions are participating in this program?
The City of Fairmont and Fairmont School District have a similar program to encourage Multi-Family Housing projects.
What is the process?
Complete an application, attach required documentation including a check for $250 and deliver all to the County Assessor. When a completed application is submitted, a public hearing date will be set, publicized, and held on a regular County Board of Commissioners meeting date. Your application will be considered for approval at that meeting.
Will there be any correspondence of the approval of the tax abatement aside from the meeting minutes? Would a letter also be expected to be received at my home address?
We will email you a copy of the signed application, board action, and resolution.
What are some of the challenges that I need to plan for?
The County policy states that construction will not begin until the Board can take action on each application. Your risk here is for non-approval of your application for not complying with the Board Policy. The Board typically meets every two weeks, and the public hearing notice must be published 10 days in advance of the meeting. You will want to allow 6 weeks for this process to be completed.
Am I to notify you of when the time comes for a known date of occupancy? If so, is email ok?
Yes, please email the County Assessor. We’ll need to do an interior walk thru to update the property record card for assessment / valuation / new construction. If construction carries over year end, we’ll need to do the appraisal as partial completion “as of” January 2 for the current year assessment. The first “valuation” will be on 1/2/2021 for taxes paid in 2022 – so 2022 will be your first year of abatement (tax refund on new construction).
Am I to provide you with receipts as property taxes are paid on the home? Would you like copies of cleared checks and corresponding Property Tax Statements? Is email ok here, too?
Email is fine anytime. The assessor shouldn’t need these items from you as the information is available within the Auditor’s records.
How will reimbursement of the tax amount work?
If all taxes are current a check will be issued to each property owner for the abatement amount each January. Feel free at any time to inquire if you have questions.