Residential, Commercial or Industrial projects receive ten years of property tax abatement in what is defined as the center city section.
This is one of the most utilized economic incentives that the city of Parsons offers for new and expanding companies. The neighborhood revitalization area in the city center recently expanded to ten years for both residential and commercial pieces of property.
This program allows for the return of all additional taxes created by any expansion or new building on or within the property lines. Residential, Commercial or Industrial projects receive ten years of property tax abatement in what is defined as the center city section. In the Northern area of the City defined as the 59/400 corridor the first five years of commercial or industrial property tax is rebated 100% years one through five and in years six through ten taxes are rebated at approximately 53%.