Housing developers will get an incentive from Montgomery County to develop high-rise buildings on Metro station properties — a break on property taxes for 15 years.
The County Council approved the bill on Tuesday 7-2. Council Vice President Tom Hucker and Council Member Will Jawando voted against the legislation.
Hucker said there are other ways to incentivize housing on those properties and the county needs to know more about what its budget will look like next year.
Jawando said the bill wouldn’t be a good trade — the county would forgo too much property tax revenue for not enough benefit. Jawando noted a proposed project at the Grosvenor station that council staff members estimated would have a tax abatement worth roughly $1.2 million to $1.4 million each year, for a total abatement of $18 million to $20.3 million.
Click here to read the rest of the article written by Briana Adhikusuma over at Bethesda Magazine
