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Recommendation Number 40 Council Action Needed to Initiate X Finance Department Action Needed to Initiate <br /> <br /> When the above table denotes action needing to be initiated by the Council, once such <br /> action is initiated, the expectation implicit in the recommendation is that the Finance Department <br /> will be involved in implementation and administration. <br /> <br /> Recommendation 1: The Council should require the Finance Department to conduct <br /> annual analysis of the tax shifting and allocation effects of multiple tax rates in <br /> comparison to a single rate system to determine if the intent of the policies underlying <br /> the multiple rate system is being realized. <br /> <br /> Recommendation 2: The Council should implement Code changes to require the <br /> Finance Department to analyze tax loss, shifting, and other effects of property tax <br /> exemptions, including the cap on assessed value increases for certain residential <br /> property. Such analysis should be conducted on an annual basis with the results, including <br /> a review of the intent of each exemption or limitation policy, reported to the <br /> Council and made available to the public. <br /> Recommendation 3: The Finance Department and Corporation Counsel should review <br /> Chapter 19 of the Code for the reasons given in report Section 4.2 (i.e. improve <br /> clarity and eliminate unused provisions) and to implement our other recommendations <br /> that would need or benefit from a legal authorization. <br /> Recommendation 4: The Council should consider Code amendments implementing <br /> requirements for annual ratio studies, periodic review of properties granted full or <br /> partial exemptions, physical inspection of property on a regular basis, and acceptability <br /> of the income approach to value. Training and certification requirements <br /> should also be addressed. <br /> Recommendation 5: The Department of Finance and the Real Property Tax Division <br /> should consider a strategic planning exercise as a way of formally addressing <br /> opportunities for improvement, setting priorities for their achievement, and committing <br /> the necessary resources. In addition, management should look for ways to <br /> increase staff involvement with planning. <br /> xv <br />