Industrial Facilities Tax (IFT)

The Plant Rehabilitation and Industrial Development Districts Act, commonly known as Act 198, provides significant
tax incentives to industry (manufacturing and high technology companies) for the purpose of creating new jobs and
maintaining existing jobs. This program allows an obsolete plant, when replaced or restored, to have its assessed value
frozen at the level prior to the improvement for a maximum period of twelve years; and new plants, as well as plant
improvements, to receive a fifty (50) percent exemption from property tax on the taxable value of new real estate and
personal properties, also for a maximum period of twelve years. It is the responsibility of the City Council to establish
plant rehabilitation districts and industrial development districts, and to approve the granting of exemption certificates.