QUESTION
What is the change in the abatement formula regarding taxes on land versus improvements?
1:57:11
·
104 sec
The council member asks if there is a change in the abatement formula from previous versions, where it no longer reduces taxes on the land but only on improvements. The assistant commissioner confirms that the abatement is applied after taxes are imposed on the property, so it no longer directly reduces the tax bill but occurs after the tax bill is established.
- The abatement used to function as an exemption that reduced the tax bill directly.
- Now the abatement is applied after taxes are calculated on the full property value.
- This represents a shift from an exemption approach to one where the abatement comes after the tax bill.
Pierina Ana Sanchez
1:57:11
One clarifying question I had, I I saw that the there is a a portion in the line that says the abatement does not reduce taxes on the land.
1:57:19
So is this change in the formula from the previous version of land and improvements to only improvements.
Tricia Dietz
1:57:27
Believe that this is referring to the fact that it is an abatement.
1:57:31
So it the abatement is applied after taxes.
1:57:34
Are imposed upon a property, then that's when the abatement is then taken.
1:57:40
So it's not an exemption anymore.
1:57:42
It's not reducing the tax bill.
1:57:44
It's occurring after the tax bill is occurring.
Pierina Ana Sanchez
1:57:47
Got it.
1:57:48
Okay.
1:57:48
Thank you.
1:57:55
Okay.
1:57:56
And you have answered these earlier.
1:57:57
So Okay.
1:58:02
Thank you.
1:58:05
Thank you.
1:58:05
Thank you so much.
1:58:08
Sergeants will handle handle that.
1:58:10
Thank you, sergeants.
1:58:13
Okay.
1:58:13
HPD, thank you.
1:58:14
Thank you so much for for this information, you know, I I just wanna make sure that in my role as housing chair and and with my colleagues in the council, We're we just wanna make sure that the city is getting bank for a buck that you have the enforcement mechanisms in place needed to to ensure that the program is administered as as it should be.
1:58:33
So these questions are the questions that you have answered have been very helpful, and I look forward to further discussion on J51.
1:58:39
Thank you.
1:58:40
Thank you.
1:58:41
Thank you.
1:58:52
We will be moving to public testimony shortly.
