New Bill Would Provide Tax Incentive for Housing on WMATA Property
Councilmembers Hans Riemer and Andrew Friedson introduced legislation Tuesday that would extend Metro’s existing property tax abatement for 15 years for new high-rise development. Bill 29-20, the “More Housing at Metrorail Stations Act,” would require the Director of Finance to offer a payment in lieu of taxes for a high-rise building constructed by a private developer on property leased from the Washington Metropolitan Area Transit Authority at a Metro station.