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“The hardest-hit properties are not luxury homes, but multifamily, commercial and industrial buildings — the very types we need to support housing production and job growth,” Smith said.

In addition, commercial sales typically lead to new multifamily development, which the city desperately needs in the midst of a housing crisis.

Smith and Manville suggested reforming the tax to only affect properties that haven’t been reassessed in 20 years, which could exempt multifamily developers while still targeting luxury homeowners whose property values have soared over the years.

Some multifamily buildings are now eligible.

At the request of local and state officials, eligibility for the Army Corps’ cleanup has been extended to most condo buildings and some other types of multifamily housing, the Federal Emergency Management Agency said.