Tax Abatements for Residential Projects Under the Microscope

The Cleveland City Council is considering legislation that would launch a process of re-examining the city's tax abatement program.
April 22, 2019, 11am PDT | James Brasuell | @CasualBrasuell
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"The city of Cleveland plans a deeper look at its policy of offering property tax abatements for new housing," reports Nick Castele.

Currently, the city offers 15-year tax abatements for new housing construction and rehab projects that surpass a threshold of significance. The new legislation would take a first, small step toward reforming that tax abatement program by hiring a consultant to "reexamine those policies," reports Castele.

Potential changes could shorten the amount or lifespan of abatements, or leverage the policies to encourage more affordable housing development.

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Published on Monday, April 22, 2019 in ideastream
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