City offers tax incentives
By DAN KULIN
The Hagerstown City Council on Tuesday endorsed new tax incentives for homeowners and businesses to improve or change their properties in and around downtown.
One program would give property owners tax credits for five years based on the value of improvements made to their properties.
Another program would encourage property owners to convert multi-family houses to single-family residences.
The tax credits would offset any increase to a property owner's tax bill when the improvements increased the assessed value of the property.
The tax breaks would be available only for certain downtown properties. The properties would have to be within the Community Legacy Focus Area, which is bounded by Potomac Street, Franklin Street, Cannon Avenue and Mulberry Street, and the railroad tracks south of Prospect Avenue, said City Senior Planner Kathy Maher.