BEAUFORT, S.C. (May 7, 2020) – To encourage targeted development and rehabilitation, the City of Beaufort offers several incentives to property owners. City Council passed an ordinance amending these incentives on April 14.
Any property owner who buys a vacant/empty commercial building will receive credits for all city real property taxes for that property. The property owner will receive cash reimbursements for all city real property taxes paid over the same period of years the property has been vacant, up to five years. Specific conditions apply.
Development of student housing
Development of a carriage house
Rehabilitation of a structure located in the Beaufort Historic District
These property owners will be reimbursed for all city real property taxes paid on the property for a maximum of three years. Specific conditions apply.
“These incentives offer property owners tax relief, and in return, the city benefits from more student housing, and the reuse of vacant buildings,” said David Prichard, director of the Department of Community & Economic Development.
Prichard can provide more information about the incentives. He can be contacted at email@example.com or 843-525-7012.