Soul of the City Business Improvement District Emergency Amendment Act of 2026 adjusts BID taxes for nonexempt properties.

The Soul of the City Business Improvement District Emergency Amendment Act of 2026 modifies the BID taxes for nonexempt properties within the district. It sets the BID tax at $0.18 per $100 of the assessed value for Class 2 Properties, excluding hotels, and $120 per hotel or motel room annually. Class 1A properties with five or more residential units are subject to a $120 annual tax per unit, but are exempt if they provide satisfactory proof of non-transient occupancy. The act also allows for a 3% annual increase in BID taxes.

Soul of the City Business Improvement District Emergency Amendment Act of 2026 adjusts BID taxes for nonexempt properties.

The Soul of the City Business Improvement District Emergency Amendment Act of 2026 modifies the BID taxes for nonexempt properties within the district. It sets the BID tax at $0.18 per $100 of the assessed value for Class 2 Properties, excluding hotels, and $120 per hotel or motel room annually. Class 1A properties with five or more residential units are subject to a $120 annual tax per unit, but are exempt if they provide satisfactory proof of non-transient occupancy. The act also allows for a 3% annual increase in BID taxes.