PropBot.com Greensboro Property Tax Repeal
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We do not want a city tax on our Rental Properties. We are already paying property tax.
This tax in turn will have to be passed onto the consumer to make up for the city taxes.
Some ideas you can do as a landlord/property manager.
1. Attend the City Council meeting on June 5th.
2. Sign this petition by June 5th.
DEAR GREENSBORO CITY COUNCIL MEMBERS,
Do not enact a Privilege Tax on RESIDENTIAL, OFFICE, RETAIL AND INDUSTRIAL REAL ESTATE RENTS. Do not adopt dramatic increases to the Privilege Tax on PROPERTY MANAGERS.
_________________________________________________________________________
Name Company
3. Call or email the City Council: (Talking Points on page 2.)
Mayor Keith Holliday - 412-4018; 373-2396; [email protected]
Mayor Pro Tem Sandra Anderson-273-9066;[email protected]
Yvonne Johnson - 275-5285; 275-3699; [email protected]
Florence Gatten - 273-4700; [email protected]
Tom Phillips - 207-3952; [email protected]
Goldie Wells - 373-2391; [email protected]
T. Diane Bellamy-Small - 373-2286; 855-1847; [email protected]; [email protected]
Sandy Carmany - 855-1538; 373-4641; [email protected]
Mike Barber (voted against the fees in April) - 273-4884; [email protected]
GSO Privilege License Fees being considered:
BRAND NEW TAX ON RENTS: "Section 13-119 Rental or Lease of Real Estate: Applies to every person, defined as any individual, partnership, corporation, LLC, association, or business entity, who earns more than $25,000 in gross receipts per year in rental income is subject to a license tax based on the following schedule: 1. Annual gross receipts up to $25k are exempt from the license tax. 2. For each $1,000 or fraction thereof, in excess of $25k, 60 cents. The maximum license tax under this section shall not exceed $10,000: however, the minimum tax shall not be less than $50." The $10,000 fee cap would apply to gross revenues of $16,641,566. This new tax should only apply to revenue generated from properties located in the city of Greensboro, regardless of where the owning entity is located.
INCREASED TAX ON PROPERTY MANAGEMENT: In section 13-110 the previously existing tax on property managers and other businesses is increased: The cap on the fee has been increased from $1200 to $10,000, and the rate has been increased from 50 cents to 60 cents per $1000 annual gross receipts in excess of $15,000. For property managers, the tax is charged on the property manager's service fees only, not the rent receipts that are passed on to the owner.
SOME TALKING POINTS:
1. The new Privilege Tax schedule was adopted in April, with little notice to the Business Community. It was to take effect July 1. The staff's original financial impact projections appear to be vastly understated. In response to complaints from us and other industries, Council voted on May 15th to reconsider the issue at its June 5th meeting. Staff is still recommending the increases and the rents tax.
2. The City's Customers were not included in this discussion. We have always asked that we not be surprised at the last minute, AND have an opportunity to participate in thoughtful discussion on issues that affect our industry.
3. The increases in the property managers' tax need to be revisited along with all other increases. The increase in the maximum tax from $1200 to $10,000 is of particular impact.
4. The new tax on rent receipts constitutes double dipping, since this real estate is already taxed as real property. Contrary to popular misconception, renters DO PAY PROPERTY TAXES! They don't cut the check directly, but the property taxes, like all other costs, are included in the rent rates. To add this new tax on real estate that is rented discriminates against tenants and landlords (as compared to owner occupied real estate) by making them pay twice.
5. Staff says Durham is the only city in NC that has a rents tax. Durham is NOT the poster child for how to treat business!
6. Any increases ultimately adopted should be delayed for several months, to allow time for businesses to adjust their pricing structures to include the higher costs.
7. Run the calculations on the actual impact it would have on YOU, and share that with us and the Council.
We do not want a city tax on our Rental Properties. We are already paying property tax.
This tax in turn will have to be passed onto the consumer to make up for the city taxes.
Some ideas you can do as a landlord/property manager.
1. Attend the City Council meeting on June 5th.
2. Sign this petition by June 5th.
DEAR GREENSBORO CITY COUNCIL MEMBERS,
Do not enact a Privilege Tax on RESIDENTIAL, OFFICE, RETAIL AND INDUSTRIAL REAL ESTATE RENTS. Do not adopt dramatic increases to the Privilege Tax on PROPERTY MANAGERS.
_________________________________________________________________________
Name Company
3. Call or email the City Council: (Talking Points on page 2.)
Mayor Keith Holliday - 412-4018; 373-2396; [email protected]
Mayor Pro Tem Sandra Anderson-273-9066;[email protected]
Yvonne Johnson - 275-5285; 275-3699; [email protected]
Florence Gatten - 273-4700; [email protected]
Tom Phillips - 207-3952; [email protected]
Goldie Wells - 373-2391; [email protected]
T. Diane Bellamy-Small - 373-2286; 855-1847; [email protected]; [email protected]
Sandy Carmany - 855-1538; 373-4641; [email protected]
Mike Barber (voted against the fees in April) - 273-4884; [email protected]
GSO Privilege License Fees being considered:
BRAND NEW TAX ON RENTS: "Section 13-119 Rental or Lease of Real Estate: Applies to every person, defined as any individual, partnership, corporation, LLC, association, or business entity, who earns more than $25,000 in gross receipts per year in rental income is subject to a license tax based on the following schedule: 1. Annual gross receipts up to $25k are exempt from the license tax. 2. For each $1,000 or fraction thereof, in excess of $25k, 60 cents. The maximum license tax under this section shall not exceed $10,000: however, the minimum tax shall not be less than $50." The $10,000 fee cap would apply to gross revenues of $16,641,566. This new tax should only apply to revenue generated from properties located in the city of Greensboro, regardless of where the owning entity is located.
INCREASED TAX ON PROPERTY MANAGEMENT: In section 13-110 the previously existing tax on property managers and other businesses is increased: The cap on the fee has been increased from $1200 to $10,000, and the rate has been increased from 50 cents to 60 cents per $1000 annual gross receipts in excess of $15,000. For property managers, the tax is charged on the property manager's service fees only, not the rent receipts that are passed on to the owner.
SOME TALKING POINTS:
1. The new Privilege Tax schedule was adopted in April, with little notice to the Business Community. It was to take effect July 1. The staff's original financial impact projections appear to be vastly understated. In response to complaints from us and other industries, Council voted on May 15th to reconsider the issue at its June 5th meeting. Staff is still recommending the increases and the rents tax.
2. The City's Customers were not included in this discussion. We have always asked that we not be surprised at the last minute, AND have an opportunity to participate in thoughtful discussion on issues that affect our industry.
3. The increases in the property managers' tax need to be revisited along with all other increases. The increase in the maximum tax from $1200 to $10,000 is of particular impact.
4. The new tax on rent receipts constitutes double dipping, since this real estate is already taxed as real property. Contrary to popular misconception, renters DO PAY PROPERTY TAXES! They don't cut the check directly, but the property taxes, like all other costs, are included in the rent rates. To add this new tax on real estate that is rented discriminates against tenants and landlords (as compared to owner occupied real estate) by making them pay twice.
5. Staff says Durham is the only city in NC that has a rents tax. Durham is NOT the poster child for how to treat business!
6. Any increases ultimately adopted should be delayed for several months, to allow time for businesses to adjust their pricing structures to include the higher costs.
7. Run the calculations on the actual impact it would have on YOU, and share that with us and the Council.
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