Atlanta launches anti-displacement program to address gentrification

A new city program aims to help senior homeowners in Atlanta avoid being displaced due to rising property taxes.

Why it matters: Mayor Andre Dickens said in a statement that the city's new Anti-Displacement Tax Relief Fund program will relieve "the burden of escalating property taxes, including in rapid gentrification."

• The application to participate in the pilot is available through Aug. 17.

Follow the money: The city is using $10 million from the Centennial Yards Housing Trust Fund in partnership with its economic development agency, Invest Atlanta, to finance the program.

• Invest Atlanta will pay the county an amount equal to the homeowner's increase in property taxes from 2023 to 2024. The homeowner's account will receive a $200 tax credit if their 2024 property tax increased by $200, for instance.
• Selected homeowners will have property tax assistance for over 20 years.
• Participants can make up to 60% of the area median income , which is less than $64,500 a year in a four-person household.

Zoom in: Applicants have to be 60 or older, have lived in the city since 2015, and must reside in one of the pilot area neighborhoods .

• They also have to enroll in qualifying city and county homestead exemption programs and show a clear title on the property.
• Applicants also must resolve any property tax increase appeals with the city before the application window closes.

What they're saying: Invest Atlanta President and CEO Eloisa Klementich said in a statement that the growing city must invest in programs protecting long-term residents and "the cultural legacy of our communities."

What's next: Homeowners can visit Atlanta Metropolitan State College on Aug. 3 and Aug. 6 for 9am information sessions and to apply online or in person.

• The city wants to notify awardees in September before plans to apply the tax credit in October. The program will accept applications annually.

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