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Vacant Properties

All articles tagged with #vacant properties

politics13 hours ago

New Hampshire weighs taxes on vacant and luxury second homes

Two New Hampshire bills would tax second homes and unoccupied properties: a 0.75% levy on second homes valued at $500,000+ that would go to the local municipality, and a 'supplemental residence tax' requiring owners to pay the state the equivalent of their property tax if the home sits empty six months a year or is rented seasonally. Revenue projections range from about $15 million annually to more than $900 million, sparking debate over implementation and fairness; supporters say it could address housing and community funding needs while critics, including real estate and vacation rental interests, call it punitive. Gov. Ayotte and lawmakers say more housing units are needed and these measures will be reviewed in subcommittees.

via New Hampshire Public Radio|
#housing-policy#new-hampshire#politics
local-news5 days ago

PHA plans $84M project to turn Germantown vacant lots into affordable rentals

The Philadelphia Housing Authority plans to invest $84 million to transform over two dozen vacant properties in Germantown into 121 affordable rental units, with work expected to start by spring 2027. The project aims to revitalize blighted properties, including historic sites, and provide deeply affordable housing for households earning at or below 30% of the area median income. The initiative follows a history of neglect and legal battles involving previous ownership, and is part of broader efforts to improve neighborhood housing.

via WHYY|
#affordable-housing#germantown#local-news
urban-development2 years ago

"Baltimore Mayor Unveils $3 Billion Plan to Revitalize Vacant Properties"

Baltimore Mayor Brandon Scott is set to unveil a $3 billion plan to address the city's vacant properties, utilizing a mix of public and private financing over 15 years. The proposal includes a newly created Tax Increment Financing zone and a request for a $900 million state investment. The plan aims to rehabilitate 35,000 vacant properties, with $300 million coming directly from Baltimore through borrowing and TIF bonds. Private investment of $300 million is also expected. The plan faces challenges in securing state funding and critics argue that Tax Increment Financing may not effectively stimulate broader revitalization. The proposal also includes property tax relief and aims to reduce the city's total number of vacant properties.

via Baltimore Sun|
#baltimore#funding#rehabilitation
city-development2 years ago

"Polar Express Rail Route Set for Debris Cleanup by City"

City officials in St. Louis plan to clean up debris along the Polar Express rail route after a video showed piles of debris scattered near the train tracks and a vacant building. The property owners, Eubanks Storage, have been working to secure the building, but the city says the railroad and other vacant properties may also be responsible for the mess. Alderwoman Cara Spencer hopes to develop new initiatives for dealing with abandoned properties and advocates for community investment in the area.

via KMOV4|
#city-development#community-investment#debris-cleanup