Attention oilheat marketers: turn brownfields into greenbacks using property tax reductions

Property tax abatement helps real estate owners, dealers, future buyers and lenders in dealing with properties beleaguered with environmental problems. Though guided by ad valorem principle, reducing the tax would mean increased financial allocation that can be used for revitalization and restructuring of contaminated sites. Property owners can utilize the savings incurred from prospective tax abatements in a number of ways, such as financing clean up efforts or increased profits for their business.