Discuss Detroit Archives - Beginning January 2006 Development/Enterprise/Renaissance Zones Previous Next
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K00jd01
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Username: K00jd01

Post Number: 1
Registered: 02-2006
Posted From: 143.115.159.53
Posted on Monday, February 27, 2006 - 1:02 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I'm trying to find out the exact location of all of Detroit's residential property/income tax abatement zones. The city website lists the Renaissance zones, but I don't see any note of the NEZs or other development areas. This may be because they are still being introduced. Any help?
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Collective
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Username: Collective

Post Number: 320
Registered: 11-2003
Posted From: 68.30.1.101
Posted on Monday, February 27, 2006 - 1:59 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

check out www.michigan.org they have the ren zones listed.

Just curious, why are you interested?
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Jsmyers
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Username: Jsmyers

Post Number: 1449
Registered: 12-2003
Posted From: 209.131.7.68
Posted on Monday, February 27, 2006 - 1:59 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

NEZ are proposed and accepted all of the time.

I have seen an NEZ map, and it was basically parcel by parcel, with most areas in certain locations of the city.

You might be able to find a map on the city's website, in the P&DD section.
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K00jd01
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Username: K00jd01

Post Number: 2
Registered: 02-2006
Posted From: 143.115.159.54
Posted on Monday, February 27, 2006 - 2:06 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Thanks to both of you. I'm thinking about moving to Detroit (live in Farmington Hills now). There's no central database of the abatement zones, which would obviously help focus my search.

My family lived in Detroit from the time they immigrated here (~1920) to the late 50's. I'd like to bring it back.
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Jsmyers
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Username: Jsmyers

Post Number: 1450
Registered: 12-2003
Posted From: 209.131.7.68
Posted on Monday, February 27, 2006 - 2:15 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

You are most concerned with NEZs. I would say that the majority of new construction and major rehab residential in the city is in an NEZ. It your realtor (or the seller's realtor) can help you find out the NEZ status of a property.

Any idea where you are looking? What type of home are you interested in?
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K00jd01
Member
Username: K00jd01

Post Number: 3
Registered: 02-2006
Posted From: 143.115.159.54
Posted on Monday, February 27, 2006 - 2:30 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Single family home, older is better. Detroit homes are architecturally interesting, unlike Royal Oak or Farmington Hills. I've seen some great places in Rosedale Park and Palmer Woods. Unfortunately, those areas are probably too upscale (!) to be included in the NEZ initiative. Still trying to find a comprehensive NEZ listing on the P&DD website - I'll link it when I do.

If you folks know some nice neighborhoods in the under $200k range, I'd love to hear about it.
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Collective
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Username: Collective

Post Number: 321
Registered: 11-2003
Posted From: 70.8.144.220
Posted on Monday, February 27, 2006 - 2:41 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Contact a local agent that is familiar with Detroit tax abatements. I would recommend Sabra Sanzotta at 313-658-6400 or sanzottz@aol.com
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Jsmyers
Member
Username: Jsmyers

Post Number: 1452
Registered: 12-2003
Posted From: 209.131.7.68
Posted on Monday, February 27, 2006 - 2:42 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

The state law changed, enabling these sorts of areas to be included in an NEZ.

Up to now, NEZ's could only be granted for projects that were largely new construction.

These are both near the Indian Village/West Village area:

http://www.eastvillagehomesdet roit.com/
http://www.royalhomes.com/cont act/communities/englishvillage /
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Bvos
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Username: Bvos

Post Number: 1198
Registered: 10-2003
Posted From: 66.238.170.38
Posted on Monday, February 27, 2006 - 2:42 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

The state just approved NEZ zones for up to 26 neighborhoods in Detroit with housing built before 1968. The city council will begin a three year process to phase in those 26 neighborhoods over three years. Rosedale Park and Palmer Woods will be in the first round. The tax break will be a 40% break over the usual rates.

As far as price ranges, Palmer Woods will definately be way over your $200,000 limit. Rosedale Park has plenty of great homes under that figure (not as many in North Rosedale Park, but Rosedale Park (south of Grand River) has lots). Get in now before the NEZ passes. Housing prices will likely go up quickly.
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Skulker
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Username: Skulker

Post Number: 3626
Registered: 10-2003
Posted From: 67.103.104.93
Posted on Monday, February 27, 2006 - 3:03 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Might be a little out of your price range, but it should be covered when the new NEZs go into effect.

http://pub.realcomponline.com/ List/7/H/0/4S7I1JDA5H17H0.htm
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Slows
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Username: Slows

Post Number: 110
Registered: 01-2005
Posted From: 69.246.28.200
Posted on Monday, February 27, 2006 - 3:22 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

KOOjd01, I have a single family that's not currently listed in the Corktown neighborhood that might interest you. Feel free to email me at ryan@oconnordetroit.com
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Troy
Member
Username: Troy

Post Number: 160
Registered: 10-2003
Posted From: 67.37.213.65
Posted on Monday, February 27, 2006 - 4:57 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

You will not find a NEZ property that is a historic single family home. From what I know you will have to pay your taxes per SEV. The nez will be used on rehabs of a 4 unit property or larger not on single family properties. The law that will reduce the tax rates will be the only thing that will help what your looking for.

Are you seriously only looking at properties that are reduced taxes. What is the range you are looking to purchase? I am sure if you picked up a home in say for example Woodbridge at 1800 sqft for $160,000 your taxes would be around $4500 a year. To get a home in Royal oak that has the same sq footage you would probably have higher taxes than detroit due to the selling price.
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Slows
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Username: Slows

Post Number: 111
Registered: 01-2005
Posted From: 69.246.28.200
Posted on Monday, February 27, 2006 - 6:03 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Troy, I'm currently in the process of obtaining an NEZ certificate for my single family home in Corktown that I'm rehabbing.
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J_stone
Member
Username: J_stone

Post Number: 278
Registered: 10-2003
Posted From: 63.77.247.130
Posted on Monday, February 27, 2006 - 6:28 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Troy is mistaken.

My house has a frozen taxable value so low, that I am declining to comment here for fear someone might try and take it away from me.

Here's a tip - Buy a P.O.S. (cheaper the better)- preferably something that is burned to a crisp, on a NEZ parcell. Then follow the guidelines (don't be stupid and F it up) and "rebuild" the house with the same dimensions/footprint. You can drop a ton of money in reconstruction loans, and keep your taxable value at the destroyed home rate for 12 years.

Then you can take all of that money you save each year, and re-invest it into your property. Perhaps hire a local carpenter to build you a garage or to landscape, or to offset your ridiculous car insurance, or to offset the nearly %3 a year in city income tax, or the increase in home owners insurance, or to offset the basic concept of that it's harder to have/keep nice sh*t in the D.

I believe the NEZ is absolutely a fair deal for taking the initiative, and investing in a burned down/broken down home. I feel no guilt or discomfort from it.

Also, knowing smart people who know about the city, real estate, and NEZ's doesn't hurt either...even if they can be cranky at times.
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Toolbox
Member
Username: Toolbox

Post Number: 842
Registered: 10-2003
Posted From: 69.14.125.129
Posted on Monday, February 27, 2006 - 6:47 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)


quote:

J_stone

My house has a frozen taxable value so low, that I am declining to comment here for fear someone might try and take it away from me.




Insanely low! Lonnie Bates could not do better, even with kickbacks and bribes.

Listen to the grumpy one for he knows his shit.
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Llyn
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Username: Llyn

Post Number: 1435
Registered: 06-2004
Posted From: 68.61.197.206
Posted on Monday, February 27, 2006 - 8:20 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

My neighborhood, Green Acres, is included in the new zones. Almost all the homes are under 200K and there are some very nice and interesting places.

I checked out Rosedale Park but wound up liking GA better. I found the homes often similar on the outside but the GA homes typically seemed to have much more interestng features on the inside.

Amyhow, that's my pitch. If you want more info, click on my name to email me.
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Llyn
Member
Username: Llyn

Post Number: 1436
Registered: 06-2004
Posted From: 68.61.197.206
Posted on Monday, February 27, 2006 - 8:21 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

PS I know people all over the neighborhood. It's a very close and welcoming group.
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Neilr
Member
Username: Neilr

Post Number: 200
Registered: 06-2005
Posted From: 69.242.215.65
Posted on Monday, February 27, 2006 - 10:17 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

K00jd01, welcome to the forum. If you are considering co-op living (townhouse or highrise), take a look in Lafayette Park. The Mies van der Rohe Townhouse Neighborhood contains 186 1 & 2 story townhouses and 3 glass highrises. Additionally, there are several other co-ops in the neighborhood. We are an easy walk to Greektown, Eastern Market, the new East Riverwalk, and the Central Business District.
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Itsjeff
Member
Username: Itsjeff

Post Number: 5600
Registered: 10-2003
Posted From: 68.42.168.211
Posted on Monday, February 27, 2006 - 11:16 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Green Acres and Lafayette Park are okay, if you don't mind the cholera outbreak. But West Village is what you want! A very diverse area with great homes and nice people. Lots of forumers live here and, aside from the occasional police shootout/suicide episodes, it's a pretty peaceful place.
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J_stone
Member
Username: J_stone

Post Number: 279
Registered: 10-2003
Posted From: 63.77.247.130
Posted on Tuesday, February 28, 2006 - 11:26 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

True dat brother Toolbox.
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K00jd01
Member
Username: K00jd01

Post Number: 4
Registered: 02-2006
Posted From: 143.115.159.53
Posted on Friday, March 03, 2006 - 10:07 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Just wanted to thank everyone again... all the information has definitely colored my search for a home. I may be contacting some of you with questions.

My favorite line: "Aside from the occasional police shootout/suicide episodes, it's a pretty peaceful place"
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Jt1
Member
Username: Jt1

Post Number: 6880
Registered: 10-2003
Posted From: 198.208.251.24
Posted on Friday, March 03, 2006 - 10:09 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Just consider that Itsjeff didn't mention that he started most of the shootouts.
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Imperfectly
Member
Username: Imperfectly

Post Number: 90
Registered: 06-2004
Posted From: 69.14.162.54
Posted on Friday, March 03, 2006 - 1:26 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

i am moving into the canfield lofts in midtown that are nez.
also working with sabra and i recommend her as well !
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Broken_main
Member
Username: Broken_main

Post Number: 837
Registered: 06-2005
Posted From: 69.222.11.226
Posted on Friday, March 03, 2006 - 1:36 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

K00jd01...I recently purchased a 3BR condo in the St. Annes Gate Community near the Ambassador Bridge. The units are starting at $160k. 1500 sg feet, very reasonable association fee. It is in the NEZ so you will have the tax abatement for 12 years. The community is home to Detroit Police officers and other city workers(myself included).

If you need some more info, I would be more than happy to help. In addition, I have info on how you can even save some cash on the purchase of the home.
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Toolbox
Member
Username: Toolbox

Post Number: 843
Registered: 10-2003
Posted From: 66.184.29.148
Posted on Friday, March 03, 2006 - 1:51 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Contact The Greater Corktown Development Co. they have a single family home project happening. North Corktown phase two is or is near rollout.

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