Cheshire Offering Tax Breaks To Spur Development

CHESHIRE, CT - The Town Council recently adopted a policy to change tax codes to bolster economic development. Projects of less than $3 million will now receive property tax assistance for four years instead of three years, and projects over $3 million will receive tax assistance for seven years. Tax assistance will now be based on 50 percent of the assessed of improvements to the property, instead of the previous 45 percent.

The town made the changes based on a recommendation from the Economic Development Commission, which was seeking to enhance Cheshire's ability to compete with other municipalities. For further information, contact Economic Development Coordinator Jerry Sitko at (203) 271-6670 or jsitko@cheshirect.org.

Image via Town of Cheshire