MACo Associate Director Barbara Zektick recently testified in favor of House Bill 1323, “Property Tax – Credit for Revitalization Districts” which would authorize local governments to grant optional property tax credits to homeowners who make improvements to their homes in specified “revitalization districts.” Local governments have authority to define what a “revitalization district” is and where to designate them.
MACo’s testimony states,
HB 1323 authorizes counties to enact the property tax credit, determine the locations in which to implement it, and apply additional eligibility criteria as necessary. This will allow each jurisdiction that chooses to enact the credit to tailor it to their specific revitalization needs and incentivize improvements in those areas where the jurisdiction sees most fit. Additionally, it gives each county broad discretion to control how many credits it authorizes and how much revenue it is willing to forego to provide the desirable benefits enabled by the bill.
Follow MACo’s advocacy efforts during the 2017 legislative session here.