What: Review of the 2023 reform of the residential tax abatement program, which gives up to 15 years of abatement on the added value of renovated or new homes using neighborhood tiers (Lift, Expand, Sustain).
Where it stands: More than 90 percent of abatements under the reform went to single-family homes, with few multifamily or missing-middle projects. Application volume is steady at roughly 300 to 400 a year. Staff recommended keeping the reform for at least another year, considering a third-party assessment and exploring ways to encourage affordable housing in Sustain neighborhoods.
Next: Possible third-party assessment; members raised aligning the transit-corridor bonus with current geography.