FAA's HR&A Study: Tax Discounts are a Critical Tool for Solving Florida's Affordable Housing Crisis
A study commissioned by the Florida Apartment Association finds property tax discounts will increase affordable housing stock and spur economic growth across Florida.
The FAA study finds a 25% tax discount for participating housing providers in the Miami area, for example, could enable an average of 1,250 affordable apartments per year for residents earning up to 60% of the area median household income, roughly $48,840. As a result, the Miami area would see approximately 424 new jobs, $20 million in increased earnings, and $52 million in increased economic activity annually.
The FAA study provides additional evidence in support of state legislation to authorize these types of local tax discounts. For more information, read a press release here, read the study here
, or visit housingopportunityforall.com
Learn more about the legislation here.