A 10-year tax abatement on a $1 million investment on a commercial property in Columbus with a 3 percent cap would save the owner $113,058 during a 10-year period, according to a sample assessment calculated by Bartholomew County Assessor Lew Wilson.
- 10 years of taxes on that $1 million property with no abatement: $251,240
- 10 years of taxes on the property where the tax begins at 10 percent in the first year and increases 10 percentage points each year until reaching 100 percent in the final year: $138,182
- Savings: $113,058
