Governor Healey’s First Budget Makes Housing a Priority
May 4, 2023
Governor Healey’s first budget and accompanied tax relief proposal indicate support for housing. While her budget overall was a 6% increase over FY23 funding levels, several housing assistance line items saw larger increases, averaging a 13% increase. Many of these line items saw significant funding increases during the height of the COVID-19 pandemic, largely from federal funding. The state has stepped up to maintain them above pre-pandemic numbers.
The Legislature held a hearing on March 28th on the Governor’s tax relief proposal and related bills. MAR supported:
- Tax relief for seniors and renters
- Tax credit increases for lead paint abatement and septic system repairs or replacements
- Extending brownfields tax credits
- Increasing funding for the Housing Development Incentive Program which has a robust history of success creating more housing in gateway cities.
- Increasing the estate tax threshold to account for increases in home values and make Massachusetts more competitive with other states
- Additional tax relief measures including capital gains relief and employer student loan assistance.