This initiative is designed to encourage the growth of new businesses and support existing businesses looking to expand within our town.
As part of this program, the EDC will review applications from prospective businesses and projects and forward successful candidates to the Board of Selectmen for final approval. Our goal is to make this program a valuable tool in fostering a vibrant business community in Columbia.
How to Apply: If you’re interested in participating in the tax abatement program, please contact the Town Administrator to receive an application and schedule a meeting with the EDC. During this meeting, you will present your proposal to the EDC. If recommended, your project will then proceed to the Board of Selectmen and the Financial Planning & Allocation Commission (FiPAC) for preliminary approval. Final approval will be granted at a town meeting.
Program Benefits: Qualified businesses or projects with a minimum value of $25,000 are eligible for a local property tax abatement, applied on a graduated scale over a period of up to seven years. Project values include both the assessed value of real property and the cost of any improvements. The abatement schedule is as follows:
Year Abatement Percentage
1 80%
2 70%
3 60%
4 50%
5 40%
6 30%
7 20%
The abatement applies to increases in real property tax assessments resulting from improvements, with the abatement beginning in the first fiscal year after the issuance of a project’s Certificate of Occupancy.
This program represents an exciting opportunity to grow Columbia’s business community and enhance the town’s economic prosperity.
For more information, please contact the Assessor’s Office at 860-228-9555 or the Town Administrator at 860-228-0110.