Posted: | December 3, 2012 11:32 AM |
---|---|
From: | Senator Wayne D. Fontana |
To: | All Senate members |
Subject: | Co Sponsorship: Taxing Non-Profits on Land Value of Real Property |
In the near future, I plan to reintroduce legislation that would require non-profit organizations that own real property to pay taxes on the assessed value of the land only (not building), with the first $200,000 of land value being exempt from taxation. The exemption would apply to all property owned by the organization, not per parcel. Over the past year, I have heard and spoken to many of my constituents as well as the media about how a change needs to take place when it comes to taxing non-profits. Many corporations and companies across our state are making record profits and the time is now for these organizations to start contributing to the fiscal climate many of our neighborhoods are facing. This legislation was SB 1281 during the 2011-12 session. Previous co-sponsors included Senators Ferlo, Schwank, Washington and Earll. |
Introduced as SB143