Property Tax Relief Bill Moves Ahead
- Published: April 12, 2016
Bill 21, which provides property tax relief to property owners who dedicate their property for lifetime residential use, is receiving opposition from the Department of Budget and Fiscal Services (BFS). However, the bill will move to a second reading before the full council. BFS testified that the bill would discriminate against certain groups of property owners. They explained that when real property taxes are limited by a specified percentage increase year over year in a rising market, new owners, including first-time homebuyers, will bear a greater proportion of the taxes than their neighbors. The length of time of ownership has no direct correlation to the ability to pay real property taxes.