Invest Atlanta launches new tax relief program for senior residents

Invest Atlanta has opened the City of Atlanta’s new Anti-Displacement Tax Relief Fund program. This affordable housing initiative will provide tax relief to eligible senior homeowners, age 60 or older, with greater risk of displacement due to rising property taxes. The initial pilot program will support some of the city’s most vulnerable homeowners and include 200 qualified applicants who will be randomly selected for participation.

“This program is another example of our commitment to affordable housing, equitable growth and community preservation,” said Mayor Andre Dickens. “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.”

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.

To be eligible for the pilot program, Atlanta homeowners must:

• Be a city of Atlanta resident since 2015;
• Reside in one of the pilot area neighborhoods ;
• Be age 60 or older;
• Have no encumbrances attached to the property;
• Have a clear title/ownership;
• Be actively enrolled in a qualifying homestead exemption program; and
• Have a household income of 60 percent of the area median income (AMI) or below.

“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,” said 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.”

Atlanta homeowners interested in the program are encouraged to visit Invest Atlanta’s Tax Relief Fund webpage for more information on the program, including a list of eligible neighborhoods, how to apply, and resources available to assist applicants.

Homeowners interested in applying may apply online or in person at one of the following Application Assistance sessions below:

• Aug. 3, 2024: Application Assistance #1 at 9 a.m. at Atlanta Metro State College
• Aug. 6, 2024: Application Assistance #2 at 9 a.m. at Atlanta Metro State College

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