The City of Houston recently approved tax incentives for businesses that install green stormwater infrastructure.
Property owners who construct green roofs, rain gardens, permeable pavement, and rainwater harvesting elements can have their property tax reduced. A facility would be eligible for a tax abatement if the project valuation is at least $3 million, with at least $200,000 of that for green stormwater infrastructure.
The value of the abatement could be 100% of the project’s valuation for the green stormwater infrastructure for up to 10 years. Thus, a $3 million project with $200,000 worth of green stormwater infrastructure could save the owner $20,000 annually.
One city council member told the Houston Chronicle that he would like to extend the program to include residential property owners.
Related Stories
Codes and Standards | Apr 19, 2019
New method of manufacturing cement removes CO2 from the air
Breakthrough could have significant impact on reducing greenhouse gas emissions.
Codes and Standards | Apr 12, 2019
Deadline nears on New York City sprinkler requirement for tall office buildings
The mandate applies to all buildings regardless of when constructed.
Codes and Standards | Apr 8, 2019
LEED v4.1 now available for cities, communities, residential/homes
The rating system emphasizes performance monitoring, fully integrated design, social equity, and human health.
Market Data | Apr 8, 2019
Engineering, construction spending to rise 3% in 2019: FMI outlook
Top-performing segments forecast in 2019 include transportation, public safety, and education.
Codes and Standards | Apr 5, 2019
Manhattan expected to adopt congestion pricing plan for automobiles
New York would be first U.S. city to charge drivers extra for downtown motoring.
Codes and Standards | Apr 4, 2019
Chicago makes major building code overhaul
Previous comprehensive changes were done 70 years ago.
Codes and Standards | Apr 3, 2019
Construction advanced materials makers can enhance industry efficiency with technology
Integration of new IT approaches in construction with new materials has potential to enhance sustainability, alleviate worker shortage.
Codes and Standards | Apr 2, 2019
Open offices reduce collaboration among employees
Counterintuitive finding makes value of wide open workspaces questionable.
Codes and Standards | Mar 29, 2019
New timber traceability LEED credit released
Pilot credit aims to reduce use of illegal wood in buildings.
Codes and Standards | Mar 28, 2019
Swinerton forms new mass timber business group
Will pursue new projects being developed with mass timber.