GO ITEM 1
Government Operations and Fiscal Policy Committee
Faden, Senior Legislative Attorney
Worksession: Expedited Bill 37-14, Real Property Transfer Tax
Expedited Bill 37-14, Real Property Transfer Tax - Exemption - Enterprise Zones,
sponsored by Councilmembers Navarro, Floreen, and Riemer, Council President Rice, and
Councilmember Berliner, was introduced on July 15,
A public hearing was held on
September 9 at which no speakers appeared (but see letter from Buchanan Partners on ©7).
Bill 37-14 would exempt transfers of rezoned property located in an enterprise zone from
the 6% rezoning transfer tax. Those properties would still be subject to the underlying 1%
would also repeal archaic and obsolete language and references, and make
conforming and stylistic changes.
Fiscal impact The fiscal impact statement, received on September 17 (see ©8-9), did not
estimate a revenue loss from enacting this Bill because of the limited number of properties that
are likely to be affected.
order to reflect updated terminology in the rewritten County
zoning code which takes effect on October 30, some conforming amendments to ©2-3, lines 27-49,
shown by double brackets and underlines, are needed:
"Rezoned to a more intensive use" [shall mean] as used in this subsection means a
classification, reclassification.. or change in zone which permits a greater number of
dwelling units per acre in any residential zone, or which permits a greater number of
permitted uses regardless of area or adds more floor area in a commercial>! [[zone]]
commercial/residential. employment. or industrial zone, or is from any residential zone to
any commercial>! commerciaVresidential. emplovrnent. or industrial zone, or is from any
industrial zone to any commercial>! conunercial/residential. or employment zone.
."Rezoned to a more intensive use" [shall] does not include:
(1) A zoning from a residential zone to a [[Planned Unit Development Zone]] [under
division 59-C-7 granted after January 1, 1980J, residential floating zone if the