The Mount Vernon Triangle Community Improvement District (MVTCID) is hosting a meeting to discuss the topic of a Consolidated Condo Tax. The meeting will take place at the former Madrigal Sales Trailer at 4th and Eye NW on Tuesday January 19th at 6:00PM.
From the CID:
We are exploring the idea of mailing one tax bill to each condo building rather that to each condo owner. If you feel strongly about one bill or individual bills, please come to this meeting to share your thoughts. We are trying to reduce errors and paperwork for condo owners, the Office of Tax & Revenue, and MVTCID.
The MVT CID is a non-profit BID created by Mayoral order in 2004 that manages the key operational issues of the Mount Vernon Triangle. The organizations most visible contributions include the Clean Team that operates 7 days a week and the safety initiatives. These services are funded by an overlay BID tax for which the tax structure is $0.35 per square foot of undeveloped land, or $0.15 per square foot of commercial property, or $120 per residential unit, or $90 per hotel room. A shift to a consolidated condo tax would aim to send one bill to each condominium building rather as opposed to continuing the current practice of invoicing individual condo owners bills for $120/yr. Such a shift will require legislation from the city so the change is not yet imminent.
What are the pros and cons of this approach for residents? On the surface a condo owner would simply pay $120/yr in extra condo fees rather than paying the tax directly to the city. However cons would include the fact that this shifts the burden of unpaid BID taxes by certain individuals to the building’s residents rather than the CID.