Central West End South Special Business District Proposition
Simple majority required.Ballot wording: Shall the CWE South Special Business District be authorized to impose a tax on owners of real property, including that real property used exclusively for residential purposes, located in the CWE South Special Business District in a sum not to exceed eighty-five cents on the one hundred dollar assessed valuation?Summary: This measure would remove the annual property tax cap of $7,000 per property and allow the district board to increase its property tax rate above last year's rate of 56 cents per $100 assessed valuation, the board president says. He said the board hasn't set a new rate yet but that it won't be as high as the 85-cent maximum reestablished if the measure passes. Under the state Hancock Amendment, he said, the district's effective maximum tax rate has gradually fallen to about 56 cents. The tax pays for additional police patrols, security cameras, infrastructure and neighborhood health programs in the district. If the proposition passes, about $100,000 a year in additional revenue would be generated. Only residences worth over $6.5 million and commercial buildings worth over $3.9 million would be affected by the removal of the $7,000 tax cap.
