What is the Bailey Bill?

The Bailey Bill is a special property tax incentive for rehabilitating historic buildings. If a property owner invests a minimum of 75% of their building’s assessed value back into the building, and the work is eligible and approved, then the assessed value of the property is “frozen” at the pre-rehabilitation value for the next 10 years.

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1. What is the Bailey Bill?
2. What structures can qualify?
3. What is the minimum investment?
4. What type of work is eligible?
5. Is there a fee?
6. What is the process?