This afternoon the Senate Finance Committee reported House Bill 5182, legislation that would allow the State Tax Commission to grant a local property tax exemption for qualified housing organizations (namely Habitat for Humanity).
The bill as substituted would say an exemption is in effect for the lesser of 5 years or until the the property is leased to a low-income person or is transferred to another owner. For residential lots the exemption is for 3 years or until the property is leased or transferred.
The League testified in opposition to this legislation. The legislature continues to erode local control by taking local money for state priorities.
Samantha Harkins is the Director of State Affairs for the League handling municipal finance issues. She can be reached at [email protected] or 517-908-0306.