Department applies the following formula to the Total Cost it determines eligible for the program: Total Cost x 50% divided by 60 months divided by the number of rental units that benefit from the improvement. I had Strykersville Hardware come out to install some new gas lines. Directly or indirectly, the stove was a bit trickier, the financial demands of most major improvements will preclude the possibility of using current operating revenue for large outlays. It sounds like the only thing you don’t pay tax on is labor for capital improvements. Individuals who work on real property for you are considered contractors. A contractor is required to pay sales tax on the cost of his materials. Whether or not you pay sales tax on his labor charges depends on what type of work is done. This is why a contractor’s bill should separately state charges for parts and charges for labor. The City staff’s analysis of potential available revenue sources is not necessarily related to how Project proposals are ranked and to what Projects can be implemented in a prudent manner. The City of Brighton examines the potential financing options available at the very outset of the CIP planning process. This examination is focused initially on what can be financed utilizing existing City resources. However, we must be prepared to obtain financing from lenders who are willing to be repaid in the future. While the dryer was easy, as running the line involved drilling it under some cabinets.
