Mayoral candidate Otis Rolley unveiled a plan Tuesday that he says would cut property tax rates for most homeowners by more than half in a decade.
Rolley's plan would keep property tax rates at current levels for commercial properties, including rental homes and apartments, and dramatically increase rates for vacant plots and buildings. He would also tax homes worth more than $200,000 at a slightly higher rate-- but only on the portion of the home's value that exceeds $200,000.
Rolley said that the increased revenue from blighted buildings would compensate for some of the revenue lost by the tax cuts to residential properties. He said he would also trim to city government, but did not specify which cuts he would make.
"There is enough fat within [city government] to enable us to do what we need to do," he said.
Rolley, the city's former planning director, is the third candidate to release a detailed plan to cut property taxes.
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