Tax Modernization Committee

COLUMBIA TAX MODERNIZATION COMMITTEE MEETING MINUTES THURSDAY, APRIL 14, 2022 The Columbia Tax Modernization Committee met on Thursday, April 14, 2022. The Honorable Joe E. Taylor, Jr. called the meeting to order at 11:05 a.m. and the following committee members were present: The Honorable Daniel J. Rickenmann, The Honorable Edward H. McDowell, Jr., Mr. Steve Taylor, and Mr. Billy Cantey. Mr. James Bennett participated remotely. Mrs. Scottie Hughes was absent. CALL TO ORDER  Welcome and review of the objective and meeting dates - The Honorable Joe E. Taylor, Jr., Chairman Received as information. No action was taken. QUESTIONS AND COMMITTEE DISCUSSION  Comparison of Richland County/ City of Columbia current property taxes on commercial, apartments and rental homes with neighboring counties, in the state and nationally - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute Received as information. No action was taken.  Negative effects of non-competitive commercial, apartment and rental home property taxes - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute Received as information. No action was taken.  Expected outcomes and benefits of having competitive commercial, apartment, and rental home property taxes - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute Received as information. No action was taken.  Possibility of reducing commercial, apartment and rental home property taxes in Richland County/City of Columbia without raising other taxes or fees - Dr. Rebecca Gunnlaugsson, President of Acuitas Economics Received as information. No action was taken.  Initial recommendation on the best method to accomplish a 25% or more reduction in commercial, apartment and rental home taxes without raising any other taxes and fees - Dr. Rebecca Gunnlaugsson, President of Acuitas Economics Received as information. No action was taken.  Legal and legislative needs - Mr. Charles Terreni, Esq., Terreni Law Firm, LLC Received as information. No action was taken. Page 1 of 2  COLUMBIA TAX MODERNIZATION COMMITTEE MEETING MINUTES THURSDAY, APRIL 14, 2022  Date, time, and discussion of next committee meeting - The Honorable Joe E. Taylor, Jr., Chairman Received as information. No action was taken. The next meeting will be held on Tuesday, May 3, 2022 at 10:00 a.m. ADJOURNMENT The meeting was adjourned at 12:29 pm. Respectfully submitted: Erika D. Moore Hammond, CMC City Clerk Page 2 of 2

COLUMBIA TAX MODERNIZATION COMMITTEE MEETING AGENDA THURSDAY, APRIL 14, 2022 The Columbia Tax Modernization Committee will conduct a meeting on Thursday, April 14, 2022 at 11:00 a.m. in Council Chambers at City Hall, 1737 Main Street, 3rd Floor, Columbia, SC 29201. Members of the public are encouraged to participate remotely by viewing the meeting online at www.columbiasc.gov. For questions regarding the meeting, please contact the City Clerk at (803)545-3045 or cityclerk@columbiasc.gov. CALL TO ORDER  Welcome and review of the objective and meeting dates - The Honorable Joe E. Taylor, Jr., Chairman There will be time for questions from committee members after each presentation. QUESTIONS AND COMMITTEE DISCUSSION  Comparison of Richland County/ City of Columbia current property taxes on commercial, apartments and rental homes with neighboring counties, in the state and nationally - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute  Negative effects of non-competitive commercial, apartment and rental home property taxes - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute  Expected outcomes and benefits of having competitive commercial, apartment, and rental home property taxes - Dr. Stephen Walters, Chief Economist at the Maryland Public Policy Institute  Possibility of reducing commercial, apartment and rental home property taxes in Richland County/City of Columbia without raising other taxes or fees - Dr. Rebecca Gunnlaugsson, President of Acuitas Economics  Initial recommendation on the best method to accomplish a 25% or more reduction in commercial, apartment and rental home taxes without raising any other taxes and fees - Dr. Rebecca Gunnlaugsson, President of Acuitas Economics  Legal and legislative needs - Mr. Charles Terreni, Esq., Terreni Law Firm, LLC  Date, time, and discussion of next committee meeting - The Honorable Joe E. Taylor, Jr., Chairman ADJOURNMENT Page 1 of 1