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October 30, 2014 <br />Page 3 of') <br />Real Property Tax (RPT) Task Force <br />Statement of Goals <br />Our task force is drafting and submitting recommendations to the County Council and Finance <br />Department on or before November 30, 2014 in order to be considered for passage prior to <br />December 31, 2014. The recommendations are based upon the IAAO Report of March 12, 2012, <br />priorities outlined in the Council's 2012 -2013 Ad Hoc Real Property Tax Stakeholders Task Force <br />Committee, Council Member proposed bills and resolutions, as well as on -going public input. Our <br />recommendations will be aimed at: <br />y Increasing the fairness of the County's Real Property Tax program by seeking to eliminate <br />significant tax loopholes; <br />Identifying and recommending best property tax administrative practices currently not provided <br />for in the County code (e.g., use of the Income Approach for commercial properties); <br />Propose additional tax breaks as appropriate in light of savings resulting from closing tax <br />loopholes; <br />➢ Identifying and recommending opportunities to enhance the cost - effectiveness and efficiency of <br />the Real Property Tax Division; <br />y Addressing bills and resolutions referred to the Task Force by the current County Council; and <br />Y Developing suggestions for priorities to be addressed in 2015. <br />