Detroit Foreclosure Investors

The Renaissance Zone program is a collaborative effort between the City of Detroit, the County of Wayne, and the State of Michigan to give tax incentives to residents and businesses. The City of Detroit has designated sixteen areas as Renaissance Zones. This program works to encourage economic stability and development within the eight designated areas of the City. The resident or business must be physically located within one of the sixteen sub-zones and must be qualified.

These tax incentives include a waiver of city income and utility users taxes, most city property taxes, county property taxes, and state income tax or single business tax. The program applies to participants who live, own property, or businesses conducting business within the area and are not delinquent in any local, county, or state taxes.

Since this program involves the exemption of tax and applies to businesses and residents alike, it is crucial for participants to apply and qualify, through the Renaissance Zone Processing Center, for these tax benefits.

Once qualified, the resident, business, or property owner will enjoy the exemption throughout the duration of the program without reapplying. However, if the resident, business, or property owner changes his/her status in any way, they must notify the Renaissance Zone Processing Center.

The sixteen sub-zones and their expiration dates in the City of Detroit are:

For a