Real estate owners should contribute to investments in the city centre, since a more vibrant city centre increases the value of their property. That is the thinking behind the new BIZ (Bedrijveninvesteringszone) legislation. Eindhoven is the first city to put it into practice, the Eindhovens Dagblad reports.
Entrepreneurs in the city centre are eager to see real estate owners paying their share. The entrepreneurs have been doing that for years, by way of the tax on advertising, which they pay based on the dimensions of the advertising on their facades. They feel that it is time that a similar contribution is paid by real estate owners.
Although no decision has yet been taken, real estate owners and entrepreneurs must now vote for or against implementation of the new law. At least half must vote, an of those, at least half of the votes must be for, in order for the new law to be implemented.
Translation: Lizzie Kean (LinkedIn)