Panel votes to repeal ‘non-speculative residential use’ tax exemption program

A County Council committee voted in favor of a bill to abolish a 30-year-old property tax exemption program.

During Tuesday’s Finance Committee meeting, council members voted unanimously in support of a bill that will repeal a program that allows owners of “non-speculative residential use” properties to freeze their properties’ taxable value for 5-10 years.

That program ceased accepting new beneficiaries more than 15 years ago, and only 459 properties currently are enrolled in the program.