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After heated debate, Albany council adopts multiunit property tax exemption ordinance; guidelines, county IGA approved
Summary
Following multiple amendment attempts and questions about public benefit levels and downtown exclusions, the Albany City Council adopted an ordinance creating a Multiunit Property Tax Exemption (MUPTI) program and approved guidelines and an intergovernmental agreement with Linn County.
The Albany City Council adopted an ordinance on Nov. 5 establishing a Multiunit Property Tax Exemption (MUPTI) program after extended debate over program scope and public benefits.
Council discussion focused on whether the program offers adequate public return for a potential seven- or 10-year property tax exemption. Councilor Thompson said the proposed thresholds were too low and proposed increasing the in-lieu payment to 20% of foregone taxes and requiring more public-benefit items ("I continue to…
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