Are there tax incentives for moving into Boston-Edison?
There are two tax incentives for new residents. First, Boston-Edison is designated as a Neighborhood Enterprise Zone. Under the Neighborhood Enterprise Zone plan, residents who have moved into the Boston-Edison Historic District since December 31, 1997, may be eligible for a Homestead Exemption which will reduce property taxes up to 35%. To obtain the credit, residents must apply for the exemption, and they are required to sign an affidavit stating they plan to make a minimum investment of $500 in the property after the date of issue. Second, historic renovations on Boston-Edison homes are eligible for State Historic Tax Credits, which can return 25% of renovation costs to you in the form of an income tax credit.
