Multi-Unit Housing Tax Incentive

The Multi-Unit Housing Tax Incentive is intended to stimulate construction of transit supportive multiple-unit housing in the core areas of urban centers.  The City of Salem is committed to improving the balance between the residential and commercial nature of the downtown core and ensuring its full-time use as a place where citizens have an opportunity to live as well as work.  

The tax incentive comes in the form of a 10-year property tax abatement for new or converted, transit supported, non-transient housing units constructed within the core area and providing one or more public benefits.

Eligibility

• The project must include at least two dwelling units.  Transient accommodations such as hotels or motels do not qualify.
• The project must be located within the “Core Area” as defined in the Salem Revised Code (SRC) 2.1510c.  Click here to view a map of the boundary.
• The project must include at least one public benefit as outlined in SRC 2.1540.

Additional Information

Additional information on the Multi-Unit Housing Tax Incentive can also be found in the Salem Revised Code, Chapter 2 - 2.1500 (starting on page 42 of Chapter 2).