It is a temporary reduction or elimination of property taxes. It applies to real estate and, in some cases, the personal property that a local government or district taxes. Tax Abatements only apply to new and renovated homes and commercial buildings.
It is usually used to encourage businesses and housing providers to build in a City which needs more business and residential buildings.
In West Hollywood, We don't need anymore Commercial Building or High rent Apartments, yet these are the properties getting tax abatements.
Tax Abatements should only be grated to new Apartment buildings in which 100% of units are low cost apartments.
"Tax Breaks" are favors owed to property owners by City Council Members who received Campaign Donations from the Developers.
This must end!
I believe that all property owners, whether new construction or renovated should pay property taxes the minute they purchase the land.
Accountability, Integrity, Transparency.
Copyright © 2018 Eric Jon Schmidt for West Hollywood City Council - All Rights Reserved.