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Council presses finance on tax-payment plans, TIF treatment of rehabbed properties and affordable-housing revenues
Summary
Council members pressed the Department of Finance for a timetable on tax payment plans and clarifications on how rehabbed vacant-property tax increments will be routed to a noncontiguous TIF and what portion of transfer-and-recordation revenue will feed the Affordable Housing Trust Fund.
Council members used the Budget & Appropriations Committee hearing to press the Department of Finance for specifics on tax-payment plans, TIF treatment of rehabbed vacant properties and the expected Affordable Housing Trust Fund revenues.
Councilwoman Odette Ramos asked whether revenue from properties that are rehabbed and receive new use-and-occupancy certificates is incorporated into property-tax forecasts. Laura Larson said SDAT assessment data drives projections but BBMR also monitors vacant-property rehabs monthly and that more than $2,000,000 of property-tax revenue was removed from the general fund for FY26 to seed a newly approved noncontiguous TIF; future incremental value from rehabbed properties will be directed to that TIF to support revolving borrowing.
Ramos also asked for the committee to see the list of properties included in the TIF and requested an estimate of transfer-and-recordation revenue that would be allocated to the Affordable Housing Trust Fund; Larson agreed to provide both items as follow-ups. Ramos said last year the administration had committed to staging payment plans into the new tax system by October 2025 and asked whether that commitment still stands.
Finance Director Michael Moxton said payment plans are a top priority in the staged rollout of the new tax system but cautioned that the administration must ensure testing and data conversions are correct before committing a firm date. Moxton committed to continued reporting and to developing a communications plan with the council to explain the rollout, payment-plan availability and tax-sale implications.
What’s next: Finance committed to follow up with the committee on: (1) the general-fund impact of vacant-property rehabs for the past two years, (2) which rehabbed properties are included in the noncontiguous TIF, and (3) the portion of transfer-and-recordation revenue that will flow to the Affordable Housing Trust Fund. The new tax system’s staged rollout and payment-plan timing remain under active development.
