PACDC Testifies on Realty Transfer Tax Bill (#160471)

On June 3rd, 2016, Beth McConnell of PACDC provided testimony to the Finance Committee in support of Bill No. 160471 which would increase the Realty Transfer Tax to support home repair programs for low-income homeowners.

The legislation will increase the City's Realty Transfer Tax by 0.1% for 20 years to support the Basic System Repair Programs, the Adaptive Modification Program, and the Weatherization Assistance Program. All of these programs are oversubscribed and the wait for assistance can be as long as five years. 

This legislation is the first part of a plan by Council President Clarke that also includes a bond issue to provide up front resources to allow the backlog to be cleared more quickly. PACDC also called on the City to ensure that nonprofit home repair organizations are included in the City's planning to ensure that the capacity exists to move forward as quickly as possible.

Read the full testimony here.