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Committee recommends NEZ rehab for 1257 Bagley after assessor explains tax basis
Summary
After questioning whether Neighborhood Enterprise Zone (NEZ) abatements apply to capped or uncapped taxes, the committee heard from the city assessor and voted to recommend approval of a NEZ rehabilitation certificate for 1257 Bagley, with members asking for clearer baseline-tax calculations on long-neglected properties.
The Budget, Finance and Audit Committee recommended approval of a Neighborhood Enterprise Zone (NEZ) rehabilitation application for a duplex at 1257 Bagley in Corktown after hearing from the applicant, CPC staff and the chief assessor about how the NEZ value and tax base are calculated.
Assessor Alvin Horn told members that NEZ decisions are ultimately made by the State Tax Commission and are based on a local assessor's recommendation. "Ultimately, the State Tax Commission makes the decision, but it's based on a recommendation from the local unit,…
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