Local Government Property Tax Credits Rebates
Under current law, counties and municipalities are authorized to issue tax incentives, including property and sales tax credits or rebates, to promote certain uses of real property, such as the installation of renewable energy fixtures. Section 2 of the bill authorizes boards of county commissioners to establish a similar incentive program to offer limited county property tax credits or rebates to participants in a program designed to directly improve an area of specific local concern related to the use of real property in the county.
- Harms or may reasonably be expected to harm a disproportionately impacted community; or
- Prevents or may reasonably be expected to prevent meeting the minimum greenhouse gas emission reduction goals and deadlines.
An incentive program must be established by resolution or ordinance adopted by a board of county commissioners at a public hearing and must include the board's findings and determinations regarding the specific area of local concern and specific criteria for the qualification of program participants. The county must include specified information regarding the incentive program in a notice of the hearing provided to the clerk of each municipality that is wholly or partly located in the county and that may be impacted by the incentive program. Each such municipality must be allowed to submit written comments and provide testimony at the hearing.
Incentive programs must be evaluated on an annual basis and may be renewed only if determined to be effective. An incentive program must be uniformly applied among all owners of the same class of real or commercial property.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)