Bill 72 Amends Real Property Tax For Commercial Property
- Details
- Published: October 5, 2015
Council Member Kimberly Pine introduced Bill 72 so that if a parcel of land classified as commercial is improved with a single-family dwelling and has been granted a home exemption for the tax year, that portion of the parcel that is used for residential purposes is classified as residential. The classification would apply only to the portion used for residential purpose and may not exceed a specific percentage of square feet of land and the buildings and improvements on that land. The property tax classification would remain in effect only so long as the property qualifies for a home exemption.