This story could signify that the Neighborhood Housing Revitalization program is working as planned, although some of the property owners Foss Farrar spoke with weren't aware of the program, which provides a tax rebate on increased taxes if you improve your house.
There was a bit of controversy a couple years ago when the commission extended the program to nearly the whole city. We'll see if we can get the stats on how many people have taken advantage of the program. In any case, it's nice to see some of these blighted properties getting a make over. Delapidated housing is a big problem in Ark City.
Subscribe to:
Post Comments (Atom)
3 comments:
I know one guy who has taken advantage of the program. The key words being "taken advantage of."
I wonder how many people are landlords and flippers who just performed cosmetic repairs, nothing structural.
Just because a house looks nice, doesn't mean it's a nice house.
I guess on the flip side, just because a house looks like a dump does not mean it is a dump!
Typically, the benefit of NRA comes from increase in square footage of the property. The tax rebate comes from things that change th taxable value of the property and that does not always track with the market value.
It is rare that interior remodeling only would trigger NRA unless the owner appealed to ahve the assessor re-evaluate the property.
Post a Comment