Knox Tax Abatement Attorneys
Nichols & Wallsmith: Helping Indiana business owners save money for more than 120 years.
Through Indiana’s tax abatement program, business owners can get tax exemptions for investments they make in the local community. Located in Knox, our firm helps business owners throughout Northwest Indiana and Michiana* take advantage of tax abatement and save thousands of dollars.
Tax Abatements: A Way To Save Thousands And Thousands Of Tax Dollars
In Indiana, individuals can get tax abatements for their real and personal property investments. Tax abatements provide business owners with a mechanism to reduce their property taxes.
Real property improvements — including new construction and substantial improvements to existing buildings, and personal property such as business equipment and machinery — may be eligible for tax abatement.
During the tax abatement period, business owners can phase in the payment of real property taxes for up to 10 years. In year one, the entire value of newly purchased or constructed property is exempt from property tax. In year two, a small portion of the value of the property is subject to property tax. In year three, a slightly greater portion is taxed, and so on.
The result is potentially hundreds of thousands of dollars in savings for Indiana property owners.
At Nichols & Wallsmith, we help our clients take advantage of Indiana’s tax abatement program. Our attorneys assist with every stage of the process — including the initial application phase, filing the abatement deduction application with the appropriate municipal authority, appearing at public hearings and assisting with any future compliance issues.
Nichols & Wallsmith — Big-Town Legal Services With Small-Town Flavor
If you are a farmer or other business owner in Indiana, contact Nichols & Wallsmith at 574-207-4090 or 866-218-9110 to speak with an experienced Knox tax law lawyer about tax abatement. Consultations are free.
*The attorneys at Nichols & Wallsmith are only licensed in Indiana.