The Neighbors Defending Our Homes Coalition (NDH) supports an Equitable Progressive Business Tax (PBT). Now is the time to invest in keeping Naturally Occurring Affordable Housing on the rental market!
We understand that the CC intends to amend the current PBT language to include Mom & Pop rental providers. The Finance Staff Report shows the:
1. Small Rental Property Providers earn tiny gross receipts (SRPPs); &
2. Impossible hurdles in the 2019 "Exemption" resulted in only 68 SRPPs qualifying, & less than $20,000 being refunded in 3 years!
NDH strongly urges the CC to include all SRPPs with less than $150,000 in the PBT. This move will prevent the tremendous confusion over what constitutes a “unit” & provide a clear cutoff that will save valuable staff time. Losses in revenue can be made up by the larger corporations, huge landlords, and other big business entities. That’s what a progressive tax is about! Compare with the cost of building low-income rentals!
Hundreds of SRPPs have asked you for relief over the past 6 years. The current PBT language is NOT “EQUITABLE”. It charges SRPPs 28 times the rate of grocers, & 11.6 times the rate of administrative hubs, auto dealers, public utilities, & other businesses with up to $1M gross receipts!
Including SRPPs helps reverse City policies that are: Driving SRPPs from Oakland & lower cost housing off the market, exacerbating displacement, encouraging low-income community gentrification, and increasing homelessness.
The Neighbors Defending Our Homes Coalition (NDH) supports an Equitable Progressive Business Tax (PBT). Now is the time to invest in keeping Naturally Occurring Affordable Housing on the rental market!
We understand that the CC intends to amend the current PBT language to include Mom & Pop rental providers. The Finance Staff Report shows the:
1. Small Rental Property Providers earn tiny gross receipts (SRPPs); &
2. Impossible hurdles in the 2019 "Exemption" resulted in only 68 SRPPs qualifying, & less than $20,000 being refunded in 3 years!
NDH strongly urges the CC to include all SRPPs with less than $150,000 in the PBT. This move will prevent the tremendous confusion over what constitutes a “unit” & provide a clear cutoff that will save valuable staff time. Losses in revenue can be made up by the larger corporations, huge landlords, and other big business entities. That’s what a progressive tax is about! Compare with the cost of building low-income rentals!
Hundreds of SRPPs have asked you for relief over the past 6 years. The current PBT language is NOT “EQUITABLE”. It charges SRPPs 28 times the rate of grocers, & 11.6 times the rate of administrative hubs, auto dealers, public utilities, & other businesses with up to $1M gross receipts!
Including SRPPs helps reverse City policies that are: Driving SRPPs from Oakland & lower cost housing off the market, exacerbating displacement, encouraging low-income community gentrification, and increasing homelessness.