Property tax abatement on increased valuation due to property improvements in the Neighborhood Investment Districts (NID) or Community Reinvestment Areas (CRAs). Homebuyers who purchase new infill housing will continue to pay taxes on the land value of the home which will likely increase after construction. However, taxes on the value of the newly built home structure will be abated for 15 years. Owner-occupants of single family homes making improvements of at least 20% of the current tax value of the existing property, will be exempt from paying property taxes for 10 years on any increased value of their property due to improvement. Owners of rental property who make improvements of at least 50% of the current tax value of their property will be exempt from paying property taxes for 12 years on any increased value of their property due to improvement.