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Representative Sherwood pitches tax-credit incentives to tackle abandoned and nuisance buildings
Summary
Rep. Sherwood proposed a ‘carrot-based’ bill to incentivize private redevelopment of underutilized or deteriorated buildings via property tax credits and capped the number of designations by community size; the concept avoids eminent-domain authority and includes lien priority protections for lenders.
Representative Sherwood presented a revived bill concept aiming to encourage private redevelopment of abandoned or nuisance properties through property-tax credits rather than a government takings approach. The proposal would let municipalities designate eligible properties (vacant, deteriorating, or posing health/safety risks) and offer tax credits — up to 50% of…
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