Property Tax Relief for Longtime Residents Impacted by Gentrification

The city of Lexington in Kentucky is looking for ways to insulate long-time residents from rising property tax bills.

1 minute read

October 2, 2017, 9:00 AM PDT

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Lexington, Kentucky is considering a program "that would help pay portions of property tax bills for poor, longtime homeowners in neighborhoods attracting investment and redevelopment," reports Beth Musgrave.

"Under the proposed program, longtime homeowners with little income who face a hefty increase in their property tax bill because of gentrification could get financial help from the city," adds Musgrave.

The idea for the program arose after investment on the city's east and north sides led to rising property values and higher taxes. The City Council is expected to vote on the program in early 2018.

FULL STORY: Are those new neighbors driving up your property tax bill? Help could be coming.

Tuesday, September 26, 2017 in Lexington Herald Leader

Housing Land Use Urban Development Kentucky Lexington Property Tax Property Tax Relief Gentrification View More

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