Not for Profit
Educational Organization
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Wear the Yellow T-Shirt Campaign
Property Tax Relief Group Rally Message
We need a 2% Circuit Breaker reinstated with residential rental property included as an
immediate relief to save the city real estate, investors and all residents.
Next we need to eliminate Property Tax altogether. Elimination if passed would not
become a reality until the year 2013 at the earliest. The process involves committee,
house and senate votes.
The original $35,000 Homestead Exemption passed in 2003, only covers owner occupied
properties. The exemption is now $45,000 and still does not cover rental properties. This
disparity was created by State government and can only be equalized by State Government.
This is why we demand immediate 2% cap for all residential and residential rental houses.
The original 2%Property Tax Cap Circuit Breaker has now been changed to 3% for rentals.
Three percent produces NO RELIEF.
NO RELIEF for NOO ( non-owner occupied) properties spells disaster for the city as a
whole. It diminishes quality of life for everyone! Tenant residents; because they cannot
afford the 75 to 100 dollar per month increase in rent and therefore have to move in with
someone else to afford a place to live. This creates higher vacancy and loss to the rental
property owner, who often must lose the property to foreclosure or simply abandons the
no longer profitable investment. Vacancy and foreclosure brings deterioration and crime
into neighborhoods as they are vacated or abandoned leading to further decline.
Elimination of Property Tax altogether, replacing the lost tax dollars with slight increases
in State Sales tax and State Income Tax is the overall best answer as it spreads the tax
burden evenly among all tax payers. These two types of taxes are not subjective. There
can be no favoritism to any person, class or party. We need to work in this direction.
The current system has never been fair and cyclically produces upheaval and pain for all
at a huge cost to all tax payers. There is no fix!
REIA-NCI Library features new materials. Open at the
general meetings.
See Bill Lewis.
LIBRARY INFO
