Developing Philly: The State of Philadelphia's Tax Abatements in 2022
In 1972, the average home price in the United States was approximately $30,000. Fifty years later, that number broke $500,000, an increase that is, no doubt, aggravated by a 4.5 million-unit deficit in supply. State and local...more
New York Governor Kathy Hochul signed the bill on extending the Industrial and Commercial Abatement Program (ICAP) for an additional four years, to March 1, 2029, with no modifications to the program....more
The end of June saw the D.C. Council pass the Fiscal Year 2025 Budget Support Act of 2024 and the Fiscal Year 2025 Local Budget Act of 2024. The 2025 budget includes the “Central Washington Activation Conversion Program...more
The Office of the Deputy Mayor for Planning and Economic Development (DMPED) for the District of Columbia issued regulations effectuating the Housing in Downtown Tax Abatement (Abatement) on March 22, 2024. The regulations...more
Washington D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) released its proposed rules establishing how the D.C. government will implement the Housing in Downtown Tax Abatement program. A...more
THE STUDY - In the summer of 2019, Cleveland’s Office of Community Development and the Equitable Community Development Working Group commissioned a study (the “Study”) to identify the historic usage of the City’s Tax...more
Responding to calls from Philadelphia’s housing advocates to generate tax revenue for affordable housing, Philadelphia City Council adopted a trio of ordinances on December 2, affecting most new construction projects...more
Texas Governor Greg Abbott signed HB 3143 into law, extending the Texas Chapter 312 property tax abatement program for a period of 10 years. In addition to extending the program, the bill also provides for increased...more