courtesy of ‘s.carlson’
Mayor Fenty announced this afternoon that 33 auto dealers lost their licenses to operate in the district. By revoking their licenses, these lots fall under the vacant properties provisions of recent tax bills, which means they can be taxed at a rate of $5 per $100 of assessed value, instead of the normal rate.
DCRA will be enforcing more restrictions starting tomorrow against area businesses that might be considered blights on their community. The Post article cites one requirement in specific that may be at the root of some of these revocations: a $100,000 bond is required for used car dealers in the District and many area banks are balking at backing used car dealers, even in this market. But, this will perhaps encourage some area businesses to play by the rules, or abandon their property. Either way, we’ll see some regulatory effects here in the short term.