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AVI update: negotiations under way, Goode describes a possible compromsie.
As seems to happen when City Council is up against a deadline, a regular Council meeting has become a marathon session of closed-door negotiations, this time over the passage (or not) of the mayor's proposed Actual Value Initiative and the details therein.
AVI update: negotiations under way, Goode describes a possible compromsie.
As seems to happen when City Council is up against a deadline, a regular Council meeting has become a marathon session of closed-door negotiations, this time over the passage (or not) of the mayor's proposed Actual Value Initiative and the details therein.
The mayor wants Council to pass a bill that would set a revenue target for the citywide reassessment, and allow the actual tax rate to be set to match it.
After weeks of grilling by Council members, though, the administration has hit some snags: it can't say, within multiple multiples, how much the city's property is actually expected to be worth when the assessment's over. It nontheless wants Council to come up with a firm number from those stick ones: $94 million extra for the School District, accompanied by about $80 million for the city to replace the revenue scheduled to disappear when a two-year “temporary” tax increase ends after this year.
Councilman Wilson Goode says he believes Council will pass something of a compromise: a bill that would raise about $85 million for the schools, partly through AVI but partly through a hike in the Use and Occupancy tax for commercial properties, as proposed by Council President Darrell Clarke in an alternative bill to mayor's.
CP couldn't confirm any of this, and Council members appear to remain in negotiation. Not in the room with them at the moment: Councilman Mark Squilla, who helped lead the charge to delay AVI until the administration has solid numbers. Squilla hopes to pass out of committee today a bill that would do just that.
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