“More Carrot Than Stick”

A new ordinance in Anchorage AK is described as “more carrot than stick”.

The ordinance grants a 10‑year property tax abatement for vacant or abandoned residential buildings (built in 1995 or earlier and listed on the city’s official registry) if owners invest at least 15% of the building’s assessed value or a minimum of $3,000 per unit in health and safety upgrades. The tax relief applies only to the building’s value, not the land, and aims to spur renovations and bring neglected properties back into use.

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