Senate bill by Thomas Wyss is requesting to designate certain areas in Senate bill 369 as housing maintenance areas. Fort Wayne's bi-partisan coalition zoing body, have their fingers crossed that this bill after being revised over at least for time with pass the senate.
Summary of Legislation: This bill allows a municipal legislative body to designate an area within the municipality as a housing maintenance area. It provides that the total territory of all housing maintenance areas in a municipality may not exceed 5% of the territory of the municipality. The bill provides that a person that makes certain maintenance expenditures on qualified residential property in a housing maintenance area is entitled to a credit against municipal property taxes.
This bill provides that the maintenance expenditures are eligible for the credit only if they are paid to a contractor licensed by the municipality. It provides that the credit equals the result of: (1) 50% of the amount of the person's maintenance expenditures; divided by (2) the number of years for which the person may claim
the credit and provides that the credit may not exceed 50% of the person's municipal property tax liability.
The bill requires an ordinance designating a housing maintenance area to specify: (1) the categories of residential property that are eligible for the credit; (2) the number of years for which a taxpayer may claim the credit (not to exceed ten years); (3) the municipal department responsible for administering the credit;
(4) any limits on the eligibility of a person to claim a credit because of unsafe building violations or health and safety violations; and (5) the types of maintenance for which a credit may be claimed.
This bill would be effective in January 2008.
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