Real property tax; partial exemption for repurposing underutilized structures for residential use.

Real property tax; partial exemption for repurposing underutilized structures for residential use; local incentives. Permits localities to provide partial real estate taxation exemptions for converted real property where such conversion establishes a residential structure that has set aside at least 30 percent of the structure for households with a per capita income at or below 80 percent of the locality's median income or where the building owner is subject to an agreement with the Commonwealth…

Source: OpenStates · fetched April 22, 2026

• Low-income / working-classdirectModerate impactHigh certainty

  May benefit from reduced housing costs due to a portion of repurposed underutilized structures being set aside for households with incomes at or below 80 percent of the locality's median income.

  “set aside at least 30 percent of the structure for households with a per capita income at or below 80 percent of the locality's median income”· Permits localities to provide partial real estate taxation exemptions for converted real property where such conversion establishes a residential structure that has set aside at least 30 percent of the structure for households with a per capita income at or below 80 percent of the locality's median income

• HomeownerindirectMinor impactLow certainty

  May experience increased property values or changes in neighborhood character due to the repurposing of underutilized structures for residential use.

  “repurposing underutilized structures for residential use”· Real property tax; partial exemption for repurposing underutilized structures for residential use