The Middletown Town Council is considering a new tax break to encourage the creation of more affordable housing units. The proposal, which still needs to be approved by legal counsel and the full council, would cut the taxes for landowners who rent out their second properties on a long-term basis.
The idea is to create more year-round rental opportunities in an effort to boost the housing market and bring down housing costs.
Similar programs are in place in neighboring Newport, and officials in Middletown believe it can start a trend in the right direction.
“This can help people and it makes sense,” said Town Council President Paul Rodrigues. “It may encourage more year round rentals.”
The proposal was spearheaded by Rodrigues and Councilor Christopher Logan. They say the tax break is one piece of a larger plan to address the town’s housing crisis.
“This isn’t going to solve the problem, but one of the tools we can put in our tool belt,” Logan said. “We have to find a way so it doesn’t impact those year round rentals.”
The town is also considering a housing data presentation by Stantec CommunityScale at an upcoming meeting. The goal is to better inform residents about what’s happening with the housing market and why.
The Town of Middletown has more here – Another Approach To Affordable Housing.
Generative artificial intelligence (AI) assisted a What’sUpNewp journalist with the reporting included in this story.
What don’t you get?
Each time you read “affordable housing” replace it with “taxpayer funded housing”.