With an interest of increasing the number of owner occupants living in downtown Rochester, the City of Rochester and
County of Monroe Industrial Development Agency (COMIDA) have approved a property tax abatement program for the Capron Street Lofts.  The owners of the lofts will receive a significant reduction in property taxes for the first 9 years of ownership, paying only:

• 10% of the total property taxes in Year 1 of ownership
• 20% of the total property taxes in Year 2
• 30% of the total property taxes in Year 3
• and so on...

Owners will begin paying their full property taxes in Year 10 of ownership. Example:  The annual property taxes for Unit 3D are estimated at $6,830. In year 1 of ownership, the taxes for this unit will be roughly $683, Year 2: $1,366, Year 3: $2,049, and so on.