A well-designed property tax abatement program can dramatically shift project economics by temporarily reducing tax burdens, making new housing development financially viable—without requiring government subsidies. Philadelphia’s 10-year tax abatement is a powerful example: a simple policy that helped reverse decades of decline by unlocking private investment and spurring the construction of tens of thousands of new housing units.

The Philadelphia model can be replicated—especially in communities that are struggling while their neighbors thrive—if they follow the Community Revitalization Playbook:

1. By-right zoning to eliminate discretionary approvals and reduce uncertainty
2. Streamlined land use rules, faster permitting, and cost-effective building standards
3. A meaningful property tax abatement that closes the feasibility gap
4. Increased zoning capacity and flexibility to allow greater density across more areas

When combined, these reforms unleash American ingenuity and entrepreneurship, empowering builders of all sizes to deliver abundant, market-rate housing—boosting supply, reducing costs, and delivering real affordability over time.

Read the full report here.