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<br />There is a concern that the State can grant property tax exemptions without <br />regard to the impact such exemptions will have on local property-tax-dependent <br />jurisdictions. It is recognized, however, that regardless of the revenue impact, <br />there may be occasions when property tax exemptions or deferrals are the best <br />method of serving a city’s long-term interests. In those cases, the decision to <br />grant an exemption should be made at the local level, rather than by the State. <br /> <br /> If, however, the State grants property tax exemptions or other property tax <br />reductions without the approval of the taxing jurisdiction, the State should <br />reimburse cities for the resulting revenue loss. <br /> <br /> The Tax Expenditure Report highlights a number of property tax exemptions that <br />may no longer serve their public policy objective. Local governments would be <br />well served by a thorough review of all of these expenditures. <br /> <br /> <br /> Recommendations: <br /> <br />1. Oppose any granting of new exemptions, deferrals or forgiveness of <br />property taxes by the Legislature. <br /> <br />2. Support reimbursement of revenue loss if the state grants an exemption <br />that results in a revenue loss to cities. <br /> <br /> 3. Support the Legislature revisiting all property tax exemptions granted in <br />the past in light of the new revenue impact on local government. <br /> <br />4. Support removal of the corporate minimum tax. <br /> <br /> <br />City of Eugene Legislative Policies, 2007 Session <br />With IGR Mtg 10/17 and 10/26 Amendments C:\Documents and Settings\ceexelf\Local Settings\Temporary Internet <br />Files\OLK10B\LegPol2007Sesxx1.doc <br />Updated on: 11/6/2006 By: Last saved by ceexmfw <br /> 17 <br /> <br />