Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

November 14, 2022

Hartford City Council considers 10-year tax break for new five-unit rowhouses

Google Maps 31 Kenyon St., Hartford
By Michael Puffer

The Hartford City Council will consider tonight a 10-year tax-fixing agreement to support the development of five market-rate townhouses on a roughly quarter-acre vacant lot in the city’s Western North Historic District.

The 2,172-square-foot units planned for 31 Kenyon St. will be uniform, in a row-type style, consisting of three floors, with three bedrooms, a one-car garage and one-and-a-half bathrooms, according to a summary shared with the council.

The property currently has an assessed value of $64,540 and pays $4,888 in yearly taxes. It is estimated that, after construction, the property will have a value of $391,387 and pay $29,076 in yearly taxes.

Developer Naeem Khalid has signed on to a community benefits agreement, which includes compliance with the city’s affirmative action plan, employment goals and living wage targets.

In return, city staff are requesting Khalid be afforded a 10-year tax relief package that would see no change in taxes in the first five years, then add 20% of the taxes that would be yielded by the new value added to each year’s bill for the next five years until the full new tax burden is reached in the final year. 
 

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF