After reading yesterday's post on the tax incentive helping out at 3rd and H someone asked about tax help for small businesses on H Street. Here are the details on such help from a recent press release:
Wells Helps H Street NE Small Businesses Defer Real Estate Property Taxes During Ongoing Streetscape Construction
(Washington, DC) – On Tuesday, March 2nd, Councilmember Tommy Wells moved emergency legislation through the Council to defer real estate property taxes, without penalty, for small businesses on H Street NE, between 3rd and 15th Streets, until September 15, 2010.
With active streetscape construction on H Street NE, small businesses are suffering severe disruption to their regular business. While the enhancements will ultimately provide greater supports to small businesses once complete, the disruption created during the construction phase of the projects is sharply affecting sales and in some cases is placing severe pressures on affected businesses.
Wells stated, “It is vitally important to the survival of our small businesses that they maintain access to as much working capital as possible during the active streetscape construction.”
This short-term tax deferral will create needed flexibility for small businesses to maintain viable operations during the streetscape construction.
Councilmember Wells has also worked in recent weeks to invite CHAMPS, the local chamber of commerce, to work with area businesses and H Street Main Street and host a technical assistance meeting where owners can have questions about the tax deferral answered and learn more about how best to use the additional capital dollars and flexibility.
Councilmember Kwame Brown joined Councilmember Wells in moving the emergency measure and the bill was passed unanimously.
8 comments:
As a resident of the area, and a tax attorney for small businesses, I too was frustrated by no details being available. But I contacted councilman Wells office, and they have provided me with the enrolled copy of the bill. We are currently reviewing, and we'd be happy to help any business with questions relating to the tax deferral. 202.457.1649.
Cheers,
-Jed
How about just forgiving (not postponing)the small business taxes just like they are doing for Steurt? Just asking for parity here. Keep in mind, not only is the developer (Steurt) but the grocery store are getting a huge tax break.
It isn't any real help to let the businesses pay later if they are LOSING money now while the construction is going on!
You do not need "operating capital" when you have no customers! Some of these businesses will fail because of lack of foot traffic and parking.
The taxes need to be forgiven for any operating small business owned by a DC resident on H Street.
Not for vacant buildings or chain stores. Just for the local small businesses.
The interior of the Northeast Library will not get renovated due to DC budget constraints, yet the City Council gives 5 million dollars to a big developer...What is your priority Tommy???
Good for Wells for pushing this. People may not like the particular way he approached it but at least he is doing something. In our experience Wells and his staff have always been very responsive. Our area is lucky to have him.
Our experience is that he is pretty much a loser. He really has done very like for the NE and SW sections of his Ward. We call him Tommy not so Well.
Add NW (Penn Qtr, etc.) to NE and SW, as Mar 7, 2010 6:00:00 PM says.
That's why some people call Wells the Councilmember from ANC6b.
Get out of the old Capitol Hill Historic District? The further you are from Eastern Market....
Wells doesn't care about anything north of Stanton Park.
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