Voluntary Phase Out of TVR Use
in the Apartment Districts
The Planning and Sustainable Land Use committee discussed the newest proposal at yesterday's meeting that is a voluntary phase out of TVR use for buildings.
The committee has unanimously moved this voluntary change of TVR use proposal forward, and tabled the other two more aggressive proposals.
How would this work? The owners of properties that would like to change away from STR use would vote to permanently make this change and file a declaration with the bureau of conveyances. Why would a property do this? If they were already doing long term residential use they would like to be able to change their tax classification.