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Vacant Land Assessment Concept
 

Vacant Land Assessment Concept

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    Vacant Land Assessment Concept Vacant Land Assessment Concept Presentation Transcript

    • Vacant Land Assessment Concept City of East St. Louis, IL PGAV URBAN CONSULTING AND HINSHAW & CULBERTSON
    • Vacant Land Issues
      • Half of the City’s taxable land consist of vacant land
      • Vacant land generates little tax revenue
      • Even with population loss – essential services remain the same:
        • Same lineal miles of streets to patrol
        • Same lineal miles of streets & utilities to maintain
    • Vacant Land Issues
      • Has attracted illegal dumping
      • City constantly mowing weeds and cleaning up vacant lots
      • Diversity of ownership – both resident and non-resident
    • Vacant Land Analysis
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    • Who owns this vacant land?
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    • Vacant Land Assessment
    • Goals
      • Raise revenue for essential public services
      • Discourage land banking/speculation
      • Encourage conversion of vacant land into more productive “improved land”
    • Proposal
      • Fee for essential public safety services
      • Based on quantity of vacant land (e.g., $0.03 per square foot)
      • Apply to all vacant land – regardless of ownership or tax status
      • Assessed & collected annually
      • Administrative appeals procedures
    • Cost to Vacant Land Owner
      • 5,000 sq. ft. lot (50’ x 100’):
          • @ $0.01/sq. ft.: $50.00
          • @ $0.02/sq. ft.: $100.00
          • @ $0.03/sq. ft.: $150.00
      • (5) 5,000 sq. ft. lots:
          • @ $0.01/sq. ft.: $250.00
          • @ $0.02/sq. ft.: $500.00
          • @ $0.03/sq. ft.: $750.00
    • Cost to Largest Vacant Land Owner *
          • @$0.01/sq. ft.: $32,000
          • @ $0.02/sq. ft.: $64,000
          • @ $0.03/sq. ft.: $96,000
          • * Bi-State Truck Repair, L. Sinn, et. al.
    • Special Provisions
      • Cap ESL resident owner payment ($250)
      • Exempt vacant lots used as a unified whole with adjoining owner-occupied residence (consolidate PINs with County)
      • Exempt unsold developer lots for 2 years
      • Other exemptions as deemed appropriate by City
    • Potential Revenue Generation
      • @ 80% Collection Rate:
          • $0.01/sq. ft.: $675,000
          • $0.02/sq. ft.: $1,350,000
          • $0.03/sq. ft: $2,025,000
      • @ 60% Collection Rate:
          • $0.01/sq. ft.: $500,000
          • $0.02/sq. ft.: $1,000,000
          • $0.03/sq. ft: $1,500,000
    • Challenges / Obstacles
      • Self administration (County won’t help)
          • More costly & less efficient
          • Collection rate likely to be lower
      • Likely to be legally challenged
      • Reliance on a specific revenue amount can’t be counted on until in place for several years
    • Final Notes
      • It is HIGHLY RECOMMENDED that the vacant land assessment is implemented AFTER implementing property tax relief reform (TIF district reductions).
      • Voter repercussions likely without property tax relief FIRST!