Tax exemption created for builders restoring blighted, vacant structures

STATE REP. John G. Edwards, D-Tiverton, sponsored a new state law designed to encourage housing construction that also creates tax incentives for builders who want to rehab blighted or vacant structures. / COURTESY R.I. GENERAL ASSEMBLY
STATE REP. John G. Edwards, D-Tiverton, sponsored a new state law designed to encourage housing construction that also creates tax incentives for builders who want to rehab blighted or vacant structures. / COURTESY R.I. GENERAL ASSEMBLY
PROVIDENCE – A new state law designed to encourage housing construction also creates tax incentives for builders who want to restore blighted or vacant structures. The law creates a tax exemption on improvements made to an unoccupied house or condominiums – bought at a foreclosure sale, auction or from a bank - for up to…
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