CM Paltin's CD1 version of Bill 95 should be changed as follows:
--postpone waiving RPT on fire damaged proerties for next year untl next April, when you will have had more time to consider whether the county can absorb the full revnue hit; you may want to waive taxes only in OO parcels where the residual value is below $500,000, for example. RPAD will have professional assessed values for al thse parcels by then.
--Don't waive any taxes now for FY 26 (RPT year 2025)--take it one year at a time
--Do adopt provision granting waiver for FY 25 to NOOs or STRs that provide rental housing to the displaced with parcel owner qualifying by fiing declaration of months rented in 2023, and a 1 year lease for all of 2024. RPAD said yesterday they could handle a 1/31/24 deadline for receiving these materials. But again take this one yer at a time. The bill as drafted provides 2 years of waiver but requires only a 1 year lease.
--in D., make sure any waiver f taxes oon hotels is only for each room rewnted to dis-laced--it is worded now as if the whole parel gets the waiver; also this waiver shoud be fore one year only.--you can renew it next year if sill needed.
--Revise Department's LTR bill to not only grant the exemptions but also put NOOs or STRs that do so into LTR class for its lower rate as well as the exemprtion, as Chair Lee and I discussed yesterday.
CM Paltin's CD1 version of Bill 95 should be changed as follows:
--postpone waiving RPT on fire damaged proerties for next year untl next April, when you will have had more time to consider whether the county can absorb the full revnue hit; you may want to waive taxes only in OO parcels where the residual value is below $500,000, for example. RPAD will have professional assessed values for al thse parcels by then.
--Don't waive any taxes now for FY 26 (RPT year 2025)--take it one year at a time
--Do adopt provision granting waiver for FY 25 to NOOs or STRs that provide rental housing to the displaced with parcel owner qualifying by fiing declaration of months rented in 2023, and a 1 year lease for all of 2024. RPAD said yesterday they could handle a 1/31/24 deadline for receiving these materials. But again take this one yer at a time. The bill as drafted provides 2 years of waiver but requires only a 1 year lease.
--in D., make sure any waiver f taxes oon hotels is only for each room rewnted to dis-laced--it is worded now as if the whole parel gets the waiver; also this waiver shoud be fore one year only.--you can renew it next year if sill needed.
--Revise Department's LTR bill to not only grant the exemptions but also put NOOs or STRs that do so into LTR class for its lower rate as well as the exemprtion, as Chair Lee and I discussed yesterday.