Home Forums Legislation Tangible Tax Rate Cap Reply To: Tangible Tax Rate Cap

Chelsea Romano
Participant
Post count: 15

We do have a split rate here too and just recently passed a tangible exemption of 2,500 in 2020. It is a small exemption compared to other municipalities but it did help a lot of the smaller businesses here in town. My fear is that the Council will now eliminate that exemption so we can alter the rate from year to year. Not happy about that 🙁 I’m in agreement with your interpretation, it does read as though it is a standing cap that is to extend for more than a year.