Frequently Asked Questions

1. Increased property values citywide – Strong schools and strong communities go hand in hand.  With this program, the property values around the city will go up as older homes are renovated, and new homes are built. This increase will be realized by both the abated home and the surrounding area. In addition, once the abatement period is over for these projects, the school system receives its full share of property tax improvement. Note: It is important to remember that the improvements/construction would not have happened without this program, and the schools wouldn’t realize any increased collections on any properties.
2. With more housing comes more retail and commercial activity. An increase in commercial activity will result in an increase in tax receipts for the local schools. The old concept of “retail follows rooftops” certainly applies.
3. The school district needs housing for its employees. With the turnover in educators around the state, the local schools will likely see an increase in new employees. Ideally, new staff will be able to live within the district’s boundaries. Employees that live locally result in higher employee retention and engagement with the school district. This program incentivizes more housing development locally, which can provide homes for new staff.

There will be no impact on the funds currently collected by the school district.  This program only applies to improved value after additions or new construction and is scaled to offer the most incentive in the neighborhoods with the most need. This program only applies to property within the city limits. Any property outside of the city would not be affected.