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Newmarket Historic Downtown Tax Increment Equivalent Grant
A tax increment grant supports eligible Historic Downtown Newmarket redevelopment projects that increase municipal assessment.
About this program
The Town of Newmarket Historic Downtown Community Improvement Plan includes a Tax Increment Equivalent Grant for eligible redevelopment, rehabilitation, and intensification projects. Approved projects may receive grants based on a portion of the municipal property tax increase generated by new investment in the historic downtown.
Eligibility
Eligible applicants are property owners or developers with qualifying redevelopment or rehabilitation projects in the Historic Downtown Newmarket Community Improvement Plan area.
Requirements
- Property must be located in the Historic Downtown Newmarket Community Improvement Plan area.
- Project must involve eligible redevelopment, rehabilitation, or intensification work.
- Project must result in an increase in municipal property assessment.