Working with the City of Atlanta, Invest Atlanta has launched a new affordable housing initiative, providing tax relief to eligible senior homeowners with greater risk of displacement due to rising property taxes.
The Anti-Displacement Tax Relief Fund program will be piloted in select Atlanta neighborhoods to support some of the city’s most vulnerable homeowners, and 200 qualified applicants will be randomly selected for participation.
According to Atlanta Mayor Andre Dickens, the program underscores the City’s commitment to affordable housing, equitable growth and community preservation. “By offering crucial support to vulnerable homeowners facing the burden of escalating property taxes, particularly in areas of rapid gentrification, we ensure that our seniors, who have invested their lives in our neighborhoods, are not forced out by economic forces beyond their control,” says Mayor Dickens.
An initial allocation of $10 million will pay property taxes above a base rate for qualifying applicants over a 20-year period if they continue to qualify. Applications will be accepted annually following the initial launch in the pilot area footprint.
“As Atlanta’s economy and population continue to grow, it is vital to invest in programs that protect long-term residents and preserve the cultural legacy of our communities,” says Dr. Eloisa Klementich, president and CEO of Invest Atlanta. “The Anti-Displacement Tax Relief Fund will not only help senior residents remain in their homes but also create a more resilient and equitable city that benefits all.”
Invest Atlanta engaged APD Urban Planning Management to perform a displacement risk analysis to identify areas with the most vulnerable households. The areas selected for the pilot have a high concentration of owner-occupied senior households below 60% area median income.
Atlanta homeowners interested in the program are encouraged to visit Invest Atlanta’s Tax Relief Fund webpage, which includes a list of eligible neighborhoods, how to apply and resources available to assist applicants.