Should certain homeowners be given a break on their property taxes in areas where revitalization has resulted in increased property taxes in those areas?
Rep. Cherrish Pryor, District 94, says “Yes”. The concern, she says, is gentrification, i.e.,people being displaced by higher income residents or because of their inability to afford the higher costs in the revitalized area, in this case property taxes.
“Many of the folks who stuck it out when the neighborhoods were bad worked to bring improvements and change,” Pryor said. “They deserve to enjoy the labor of their work to revitalize their neighborhoods.” (November 5th CCO Statehouse Files article).
Rep. Pryor’s approach to rewarding those longtime homeowners is the Neighborhood Enhancement Property Tax Relief Program, which she presented at a recent Interim Study Committee on Fiscal Policy.
For more information, including specifics of the program as presented now, here is access to the Legislative Services Agency (LSA) memo. Copy and paste: https://iga.in.gov/documents/f702f50d .
If Rep. Pryor files a bill this session (and all indications are she will), the bill has a chance to be heard in committee and maybe on the floor before our Senators and Representatives. If the bill passes and is signed by the governor, our City Council would then decide whether or not to adopt the program.
Pryor’s Tax Relief Program, as presented, isn’t a panacea for gentrification; that doesn’t seem to be her intent. The program simply rewards some longtime residents who “stuck it out”.
And, even though it doesn’t help all long time residents, the concept might help those who are not fans of displacing people, even knowing the need for revitalization.
Now is not too late to have input into the bill. Or, maybe you don’t think gentrification is an issue and your State Representative shouldn’t support it. Maybe you support Pryor’s program, want it passed and want City Council to pass it.
Whats your thoughts on the subject?
CCO Statehouse Community Editor