Industrial Facilities Tax Incentives (PA198)
The Industrial Facilities Tax Exemption was designed to stimulate growth in industry through tax incentives. It was established in 1974 by the State of Michigan.
The IFT program provides Holland City Council the opportunity to grant local businesses reduced tax rates or exemptions on business expansion activities for a period up to 12 years. The fee for filing for an IFT tax exemption is $1,300. Filing does not guarantee your request will be approved. There are several forms required to begin the annual review process, and they are due by September 1 each calendar year, or within 6 months of beginning a new project.
IFT Forms and Guidelines
If you have questions about these forms, please contact the Assessor's Office at 616.355.1350. Completed forms should be returned to the City Clerk's Office.