Downtown Amherst commercial sector (try not to blink)
Now that the state has, finally, tweaked the Community Preservation Act to allow commercial real estate the same $100,000 exemption of valuation as regular homeowners , the Select Board should place the question on the ballot for the next election and allow the voters to make it so.
I've never been a big fan of the CPA simply because a) it's a tax b) public officials use it like manna from heaven and c) it discriminated against business by not allowing the same exemption given to homeowners.
The commercial sector in Amherst is infinitesimally small, representing only 10% of the tax base. So the exemption is not going to cost the town greatly, only $7,000. And those funds can be made up by redirecting money taken in via the local option hotel/meals tax, another burden on business that raises hundreds of thousands of dollars annually.
Downtown businesses have also just taken on an increase to their property tax rates to fund the fledgling Business Improvement District, so a little relief could not come at a better time.
Amherst has a well earned anti-business reputation. A symbolic gesture like this may not erase that scarlet letter...but it's a start.
14 comments:
FYI: The taxes are on PROPERTY OWNERS who charge some of the HIGHEST RENTS AROUND, not on local small businesses that PAY THE HIGHEST RENTS. The landlords MAKE MONEY BY CHARGING HIGH RENTS.
Is this ROMMNEYISM, when we worry about and cater to the financial affairs of business people who OWN VALUABLE REAL ESTATE and earn money from CHARGING HIGH RENTS?
I look at this differently -- is it a $100K *per parcel* exemption or *per owner* exemption? And then with corporations being persons and each parcel owned by a different corporation but the same principals, you could have quite an inequity with a whole lot of smaller parcels being exempted but one slightly larger one not. And an urge to subdivide parcels that isn't always in the town's best interest.
Remember one other thing -- the CPA is a tax on RENTERS because it jacks up the rent in the apartment complexes (that pay it) and that raises all the other rents too...
Now as to an income-based subsidy from the town to offset this -- forgetaboutit because the UM students would get it too....
Wow, the "it's all Romney's fault" chanting has begun and the man won't even take office until January.
Romney as president? Heaven help us all.
I assume the month is posted wrong on the Planning Board Meeting being telecast this evening...
I know the winter was mild- but summer wardrobes and folks fanning themselves to cool off seems quite out of place for a meeting dated "February 1, 2012"
"Romney as president? Heaven help us all."
Now now, he's not going to lay a finger on your supply of marijuana and Prozac.
Relax.
I have neither marijuana or prozac. Speak for yourself.
The anti-UM attitude soldiers on....
We don't want your subsidy from the town, you already get one from our existence, so what would be the point of returning our money you so desperately need?
anon 12:24, if you are bothered by PROPERTY OWNERS who CHARGE HIGH RENTS, then why not buy property of your own and CHARGE LOW RENTS and see how far that gets you?
In this economy- local real estate agents seem to be low balling prices of properties in order to make a quick sale.
(After receiving a disappointing market analysis- I decided to refinance. The bank's assessor valued my property more than $100,000 above the "suggested" listing price.)
As a result parents, grad students and landlords (limited partnerships) are buying the many underpriced properties throughout the town
10:25-
Silly, the appraisers are in bed with the banks, giving high values to justify giving you a nice big loan.
The real estate agents are interested in what the property will *actually sell* for.
Look at how long properties are sitting on the market if they are not priced correctly...
Amherst homes are still selling-
There is a lot of crap homes on the market (need obvious work, trashed neighborhoods- need clearing out and basic staging)
Blatent underpricing is not doing the market any favors-
Again, basic fact:
Things are not worth what you would like to think they are.
They are worth what someone will actually pay for them.
Know the market, Know your product -and I do.
Glad I didn't listen to incompetence!
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