Minneapolis Pilot Program Offers Property Tax Breaks in Return for Affordability

Minneapolis Mayor Jacob Frey has unveiled a pilot program that offers landlords property tax breaks of up to 40 percent if 20 percent of their units are considered affordable for households earning up to 60 percent of the area median income. Applying for "4d status," which is the program that provides the tax break, requires landlords to keep the units affordable for at least 10 years. The pilot will also provide access to free healthy home audits and subsidies for energy efficiency.

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