SB477 - Blighted and derelict properties in certain localities; rate of tax.

1 Co-Sponsor

Blighted and derelict properties in certain localities; rate of tax. Allows the governing body of a locality with a score of 100 or higher on the fiscal stress index to levy a real property tax on blighted and derelict properties at a rate exceeding the rate applicable to the general class of real property by up to 15 percent on blighted properties and by up to 30 percent on derelict properties. Blighted and derelict properties in certain localities; rate of tax. Allows the governing body of a locality with a score of 100 or higher on the fiscal stress index to levy a real property tax on blighted and derelict properties at a rate exceeding the rate applicable to the general class of real property by up to 15 percent on blighted properties and by up to 30 percent on derelict properties.