Parts of Cabot Business Park are eligible for economic opportunity credits. An explanation to calculate the economic opportunity area credit allowed by M.G.L. c. 62, Sec. 6(g) and M.G.L. c. 63, Sec. 38N provided in document 830 CMR 63.38N.1 (Adobe PDF)
This legislation establishes two new local property tax exemptions intended to function as incentives for economic development. A municipality may grant either exemption to a business in conjunction with a comprehensive plan for the development of economically distressed areas proposed by the community and approved by the newly created Economic Assistance Coordinating Council (EACC). Economically distressed areas are referred to in the legislation as economic target areas (ETAS); those parts of an ETA that are suitable for commercial or .industrial development can be designated as economic opportunity areas (EOAs). Real estate projects within an EOA are eligible for the exemptions, but only one of the exemptions can be granted to any particular parcel.
The link below provides guidelines for TIF
Property Tax Relief Guidelines (Adobe PDF)
Massachusetts Department of Revenue Business Resources