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Huntington needs more housing for the people who commute to work there, so Mayor Patrick Farrell has proposed a plan to exempt new residential housing construction from the city’s Business and Occupation (B&O) tax.
The proposal would also provide the same exemption for substantial renovations on existing homes if completed within six months of a sale. This would benefit house flippers who are looking to improve residential properties.
Monday night, the City Council Finance Committee voted to approve the measure. The ordinance now heads to the full city council for consideration.
According to a press release, more than 24,000 people commute to Huntington every day for work. Huntington currently faces a shortage of more than 2,800 units, including both rentals and homes for sale, according to the city’s 2024 Housing Needs Assessment.