Greenville County Council passed a new policy this week allowing developers to receive tax breaks when their projects include affordable housing.
Here’s what you need to know:
- The amount of the tax break is based on the number of affordable housing units included in the project. Read: The more affordable housing units included, the bigger the tax incentive.
- The policy comes as Greenville County needs an estimated 20,000 affordable housing units over the next decade. (The Post and Courier Greenville)
- The policy aims to provide more housing for middle-wage-earners in Greenville County from rising housing costs. Specifically, people who fall between 40% and 80% of Greenville County’s average median household income, which was $62,422 according to the 2020 Census. (The Greenville News)
The policy, which passed 9-3, is meant to help guide decision-making by County officials. Read it here.