With all the talk about lead paint abatement, I thought I'd bring up a bill of mine, SF 1236, which would give property owners a valuation break when they abate the lead in their property.
Patterned after This Old House law, it says that part of the value of the house will not be subject to property tax for five years after eliminating the lead paint. If a city has a program for getting rid of lead paint and you incur some cost to do so, you can get 50% of what you spent knocked off the value of your house for property tax purposes for 5 years. Say you spent $15,000 for the lead paint abatement, you get to reduce the value of your home by $7500 for five years. It is capped at a $10,000 reduction for a $20,000 expenditure. It would be available for both home owners and rental property owners. Rep. Ellison has the companion bill in the house. In addition, There also is a companion bill that would work the same way for rural areas where people need to spend money to upgrade their septic systems. linda higgins the good senator from district 58 north mpls TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
