Modest Property Taxes Incentive Will Work

A local option for a modest property tax incentive for private developers of workforce housing will most likely be filed by Boston Mayor Martin J. Walsh.

The legislation will allow the City to designate workforce housing special tax assessment zones in the areas that present an opportunity for increased development of middle-income housing, something that is sorely needed throughout the city.

Property taxes within the zones will be waived during the two-year construction phase and then phased into 100% over a three-year period.

 We agree with the Mayor that this act will be an incentive to maintain affordable rents while only creating a modest reduction in tax revenue during construction and stabilization of certain housing projects.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.