Neighborhood Enterprise Zone (NEZ)
The State of Michigan enables certain communities to establish a Neighborhood Enterprise Zone (NEZ) or Zones to spur the development and rehabilitation of residential housing. Within a Zone, properties with NEZ Certificates approved by City Council will essentially have the property taxes frozen for between 6 and 12 years. Certificates for qualified historic buildings can have property taxes frozen for 11 to 17 years. The City will consider a NEZ in order to promote neighborhood revitalization and to encourage owner-occupied housing and new investment.