Des Moines City Council to consider tax abatements
The Des Moines City Council will be asked today to approve 59 tax abatement applications valued at $47 million. If the abatements on the value of construction or improvements to residential and commercial properties are approved, the city will collect taxes only on the value of land during the time the tax deferrals are in effect. The exemption periods range from three to 10 years. The city has received 434 applications for a total of $131.9 million in tax abatements for improvements completed in 2010, according to a report from the city’s community development department.
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