Item 4 - Low-Income Prop Tx Ex. - Laserfiche WebLink

Home Browse Search

ATTACHMENT G St. Vincent de Paul Santa Clara Plaza Property Tax Exemption Program for Low-income Rental Housing I Application Pacini Revised 2004 For more information, please contact Richie Weinman at 541.682.5533 City of Eugene Eugene Planning & Development Department 99 West 10th, Eugene OR 97401 Property Tax Exemption for Low-income Rental Housing GENERAL INFORMATION The City of Eugene's Low-income Rental Housing Property Tax Exemption Program (LITEs) is intended to provide incentives for the construction of new rental housing for Iow-income persons within the city by exempting the property from ad valorem taxes for a period not to exceed twenty (20) years. WHO MAY APPLY? Any person or entity owning or purchasing property upon which Iow-income rental housing units were constructed after February 12, 1990, or will be constructed within two years after approval of an application (under current provisions, construction must be completed by July 1,2010). Non-profit public benefit corporation or religious corporations (see Exhibit A - Definitions) must meet specific criteria as requested in the application. WHEN TO APPLY? An application must be filed on or before December 1 of the calendar year immediately preceding the tax year for which an exemption is requested. If the property is acquired after November 1, an application may be submitted within 30 days after the date of acquisition, but no later than January 1 of the next calendar year.