An agenda item tonight was to decide whether to opt-out of participation in property tax relief for historic buildings in Riverside. Apparently the Village has opted out every year since 1999. Were we to participate in this program, a homeowner could restore their home (albeit at great expense and administrative nightmare), and have their assessed value frozen for eight years, as I understand it. Since Riverside at large has Landmark status, most homes are eligible.
All districts have until the end of the month to opt out of this program. The Board discussed this tonight for the first time this year, and was to vote on it without a second reading or much public input. There was significant confusion on details of the Code. But, bottom line, if we do not opt out, some homeowners could participate and have tax relief, with ALL other Riverside residents having their assessed values take up the slack.
Two Trustees wanted to opt in - Sacchi and Reynolds, arguing that our Landmark status begged for us to participate to encourage owners to rehabilitate to some historic status. They said any tax burden on ALL other Riverside residents is 'minimal', but without any supporting financial data.
Trustees Sussman, Shevitz and Sells argued that such a program benefits very few, who likely can afford high property taxes, while hurting very many, who might already be hurting financially.
Reynolds and Sacchi voted to opt in. Sussman, Sells and Shevitz voted to opt out. As a quorum was needed, Gorman was required to vote. He also voted to opt out.
To sum, two trustees wanted to pass an ordinance that would increase the property taxes of nearly all Riverside residents, while freezing the taxes of a half dozen or so residents. At a time when we have 150 homes for sale, 51 in foreclosure, and who knows how many underwater, do we really want to advertise our community as the place that favors the wealthy over everyone else? According to two trustees, we do.
I'll note that Trustee Sacchi also wanted to have reduced parking sticker prices for people with antique cars. Again, a financial break for people with money. And at that time the idea of giving breaks for people on a limited income (raised by Trustee Sussman) was shot down.
A trend?
No.
Data. I think we see how some on this Board view the average Riverside resident.