Property tax rebate program
Installing green and blue infrastructure can reduce the urban heat island effect as well as improve stormwater management. Property tax rebates can incentivize developers to build green and blue infrastructure.
Establish a property tax rebate program for new properties or substantial rehabilitations that include green and blue infrastructure.
Considerations for Use
These investments are most likely to be made by developers or property owners of projects with substantial capital to invest.
Climate:Cold, Hot/Dry, Hot/Humid, Temperate
Policy Levers:IncentiveFinancial and non-financial incentives to encourage stakeholders to implement heat risk reduction and preparedness solutions, including rebates, tax credits, expedited permitting, development/zoning bonuses, and more.
Trigger Points:City planning processesIncludes city initiatives such as the development of climate action plan, pathway to zero-energy, master plan, transit plan, energy mapping etc.
Target Beneficiaries:Property owners
Phase of Impact:Risk reduction and mitigation
Metrics:Number and location of participating properties
Intervention Scale:City, State/Province
Authority and Governance:City government, State/provincial government
Implementation Timeline:Short-term (1-2 Years)
Implementation Stakeholders:City government, Private developers, Property owners and managers
Funding Sources:Public investment
Capacity to Act:High
Co-benefits (Social/Economic):Save on utilities