Hanover, MN

Tax Abatement

Tax Abatement is a benefit similar to TIF.  A property may have ability to utilize tax dollars towards development costs.  Tax abatement does not automatically include all three taxing entities portions of taxes paid.  However, school districts and counties have the power to approval Tax Abatement similar to how cities can.  Tax Abatement requires City Council action, but conversations regarding the opportunity to utilize Tax Abatement funding may begin with the EDA.  Contact City Administrator Jennifer Nash to learn more about this and other tools available for business development in Hanover.