What is GPLET?
Arizona State statute grants the City of Tucson authority to abate property tax for up to eight years if a property is located within a designated Central Business District and meets other specific criteria. This tool is commonly referred to as the GPLET (locally pronounced Gee-plet). On April 17, 2012, Mayor and Council adopted Tucson’s Central Business District by Resolution 21883. This Resolution allows the City to facilitate the development, and redevelopment, of real property in and around Downtown Tucson by providing a significant financial incentive to projects that would not be economically feasible but for the value realized through the property tax abatement.
To date, the City has entered into twenty-three GPLET agreements. The projected capital investment from approved GPLET projects in 2019 alone was more than $300 million. These projects have created new market-rate and affordable housing, new retail space, new office space, and revitalized blighted buildings to generate jobs for the community, and tax revenue for the City and other taxing jurisdictions. The GPLET incentive tool has also been used to bring new life to outdated, poorly maintained hotels that were hotspots for crime, and now contribute to the economic growth of downtown Tucson.
Check out an interactive map that provides details on the City’s use of the GPLET tool.