Vertical Housing Tax Credit

The program encourages mixed-use commercial / residential developments in areas designated by communities through a partial property tax exemption. The exemption varies in accordance with the number of residential floors on a project with a maximum property tax exemption of 80 percent over 10 years. An additional property tax exemption on the land may be given if some or all of the residential housing is for low-income persons (80 percent of area median income or below).

Cottage Grove Vertical Housing Program was approved by the State on 5/22/2007.

  • Must be a designated Zone within the Core area of an urban center that utilizes tax exemptions to encourage mixed-use development.
  • Exemptions apply to new construction and rehabilitation projects.
  • Projects must be within the Vertical Housing Development Zone.
  • Participation is voluntary.
  • Must be a designated Zone within the Core area of an urban center to promote the development of mixed use construction and reconstruction in the zone.

Approved Cottage Grove Zone is both sides of Main Street from I Street to Gateway Blvd.

For more information, visit Oregon Housing and Community Services.