440 For Rent

[Bill Call]

The current license fee for a non owner occupied two family is $150 dollars per year.

Why not increase the amount by $350 and grant a resident tax credit of $350 on the City income tax return of Lakewood residents who own Lakewood rental propert?. Non residents could get the credit on the City tax return they file when they report rental income. The license fee would be a non refundable tax credit applied against City income tax payable on rental income.

The $500,000 per year raised could be the seed money for a development fund.

[Jim O'Bryan]

The current license fee for a non owner occupied two family is $150 dollars per year.

Why not increase the amount by $350 and grant a resident tax credit of $350 on the City income tax return of Lakewood residents who own Lakewood rental propert?. Non residents could get the credit on the City tax return they file when they report rental income. The license fee would be a non refundable tax credit applied against City income tax payable on rental income.

The $500,000 per year raised could be the seed money for a development fund.

love it


why not more?


.

[Shawn Juris]

I understand that there are some zoning matters to address but if the list of non-owner occupied properties already exists, why not charge commercial property tax for all rental units? Why should an apartment building be charged commercially but a duplex is charged residential?

Granted this would only be a good move if it went hand in hand with a deliberate correction of the rental market to decrease supply and bring rental values back in line with our competitors.

[Bryan Schwegler]

I think it's a great idea. I'd love to see anything to encourage more owner-occupied doubles.