West Des Moines TIF district makes sense, taxpayers' group says
Wednesday, April 30, 2014 1:49 PM
Gretchen Tegeler, executive director of the Taxpayers Association of Central Iowa, writes in a blog that the city of West Des Moines' use of tax increment financing to pay for roads and utilities to accommodate a $1 billion Microsoft Corp. data center is a good deal for taxpayers. "To put this project in perspective, think about it as generating the equivalent of 75 percent of all property taxes currently collected in Waukee - just from one single project! Cities want as much commercial valuation as they can get because it is taxed on 100 percent of its assessed value (whereas residential property is currently taxed on about 55 percent of its assessed value). The more commercial property a community has, the more dollars it can generate for a given tax rate, or the lower its tax rate can be in order to generate a given dollar amount," Tegeler said. Read the blog here. The city's plan and zoning commission will discuss creation of an urban renewal area near Veterans Parkway and Iowa Highway 5 that will include the data center as well as other development. The meeting starts at 5:30 p.m. today at West Des Moines City Hall.