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1. Who qualifies for a rebate on Machinery and Tools (M&T) taxes?

M&T tax rebates are:

• A full (100%) rebate of M&T taxes paid is available for a five-year period, for new or relocating businesses who locate in a technology zone after January 1, 2006.
• A partial rebate of M&T taxes paid is available for an existing business within a technology zone that undergoes an expansion or renovation which results in an increase of 15% or $50,000, whichever is greater, in the assessed value of its M&T over that of the previous year.

Note: Over the life of the zone, businesses may qualify for more than one qualifying expansion or renovation rebate.

2. I think I qualify. What is the first step?

Contact the Chesterfield County Department of Economic Development within one year of locating to a technology zone.

• This program is administered by the Department of Economic Development, and offers incentives to businesses locating and/or expanding or renovating within a technology zone.
• If the business qualifies for a business license incentive, it will still be required to apply for an annual business license with the Office of the Commissioner of the Revenue, but the license fee will either be waived or partially waived.
• In the case of a rebate on M&T taxes, the business must file and then pay the taxes assessed on this equipment before the Treasurer's Office will issue the rebate.